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December 12, 2006
Organize your Health Savings Account Expenses with HSA Tracker
A new tool called HSA Tracker has been introduced for Health Savings Account owners. Health care expenses paid with a Health Savings Account qualify for a deduction by the IRS. HSA Tracker enables users to document their health-related expenses by linking the expense to a diagnosis and doctor's prescription. The HSA Tracker also helps users discover what expenses are allowed as deductions by the IRS. HSA Tracker is free to anyone in the U.S.
By signing up for a free account at www.doclopedia.com, Health Savings Account owners are able to input expenses relating to doctor visits, prescriptions, diagnostic tests, and durable goods into their account. Doclopedia will store the material and list it by health care provider, IRS category, and medical diagnosis. The HSA Tracker features a drop down window with categories of items allowed for deduction by the IRS, prompting health savings account holders with items that are allowed for deduction by the IRS.
Users will be able to generate reports based on the HSA information they have entered, which will be especially helpful at tax time. Doclopedia also enables users to record their health care history, and provides access to a free market for health care goods and services. Doclopedia is free for consumers.
"In order to qualify for deduction the funds in Health Savings Accounts have to be spent on health care. Since medical records are legally protected, banks cannot legally provide any documentation regarding these expenses. Doclopedia introduced the HSA Tracker so that Health Savings Account owners could easily document their health care expenses, link them to their medical problems, and easily prepare a report for tax time" said Dan Lieberman, M.D., CEO of Doclopedia. "Many Health Savings Account holders don't know the IRS requirements for deduction, and are going to get an unpleasant surprise at tax time. The HSA tracker is available now, for free, and is a useful tool for every HSA account holder. There's nothing else like it on the market."
Find a High Deductible Health Insurance Plan for your Health Savings Account at: http://www.health--savings--accounts.com
Posted by Wiley Long at December 12, 2006 09:29 AM