With the new tax bill that just passed many people are wondering how their HSA (health savings account) and FSA (flexible spending account) will be affected. The good news is that neither of these were affected by the new tax bill.  The more important question for now is, do you understand how theses accounts can work for you?

HSA Accounts

  • In order to enroll in a health savings account you need to have a high deductible insurance plan.

The deductible needs to be at least  $1,350 for individual coverage and $2,700 for family coverage.  Some plans have a high deductible but they charge a copay for office visits.  These plans do not qualify for an HSA.  You also need to have an out of pocket maximum of no more than $6,650 for individual coverage and $13,300 for family coverage.

  • You can not have medicare and contribute to a HSA

If you had an HSA before enrolling in Medicare you can use it for health saving qualified medical purchases. If you are 65 or older you can use it for Medicare premiums but not medigap insurance premiums. You also have the option to use it as a traditional IRA.

FSA Accounts

  • Health FSAs are employer-established benefit plans

If you are self employed you can not sign up for this type of plan, but if you have Medicare and are still working, you can sign up for this type of plan.  The contribution for 2018 is $100-$2650. There are different types of accounts that are available.  There is a Health Care FSA and a Limited Expense Health Care FSA . The regular Health Care FSA can be used on approved medical expenses.  Here is a list of what it can be used on. The Limited Expense Health Care FSA is a flexible spending account option if you are enrolled in a Federal Employees Health Benefits (FEHB) high-deductible health plan (HDHP) and have a Health Savings Account (HSA). This option is also available if your spouse is enrolled in a non-FEHB, HDHP and has an HSA.

  • How to use my FSA

As long as you have a qualifying expense you can start using your benefits at the beginning of the year. With this account you want to spend all the money or you will lose it. There is a provision that you can roll over $500 to next year, or you may have up to an extra 2 1/2 months to use up the money if your employer allows it.  That is something you would want to ask your employer so that you know your options. With this account if you have Medicare you can not pay for Medicare premiums with this money.

You can spend your FSA money on medical expenses for your spouse, children or any other qualifying dependent you claim on your taxes. If you have grown children on your health insurance plan but don’t claim them as dependents, you can still spend FSA money on their medical expenses if they will be 26 at the end of the current plan year, usually Dec. 31.

Please check with your accountant for advice on the plans will work for you.

Even though it is the start of the new year you may still be able to use the rest of your FSA. We are one of the options that you could use so you don’t lose the money. At Hollowbrook Foot Specialist we have orthotics, both custom and over the counter,  extra wide shoes and sneakers, braces, pads and even creams for your feet that you can use with your FSA.  Give us a call at(845) 298-9074 and let us know how we can help

By David Schlam


Your Top-Rated & New Favorite Podiatrist In Wappingers Falls, NY

Always arrive to a pleasant cheerful staff! They make you feel welcome and get you situated quickly! The Doctor is friendly and makes your feet feel great! I travel a bit to get to this office, but it is so worth it! The staff is always helpful and customizes my appointments to my needs!

- Bob D.

bob 5 star review

GREAT EXPERIENCE!!!! Very nice, friendly, and thorough doctor. Wonderful staff too! Very clean office. They fit me into there schedule the same day. They recognized my issue right away and got me out of discomfort painlessly.

- Jordan C.

jordan 5 star review

I came here today for the first time what a wonderful group of people, very professional and friendly and the Dr. I saw, Dr. Geshev, he is absolutely the first podiatrist I’ve ever seen that made me feel very comfortable, and he knows what he’s doing. I would recommend this podiatrist office to everybody.

- Valerie G.

john 5 star review

Great experience. They got my son in as soon as possible as made sure his foot was ok. Will definitely use them again!

- Irene T.

irene 5 star review

Wonderful staff (warm and inviting). Clean office. Dr. G is knowledgeable and listened to me. He knew 3 ways to help my situation and I know that I will feel better under his care and instructions. I recommend Hollowbrook Foot Specialists!

- S.G.

5 star review

*The reviews listed are from actual patients of Hollowbrook Foot Specialists. Individual results may vary. Reviews are not claimed to represent results for everyone.

google 5 star review
yelp 5 star review
facebook 5 star review

Is Hollowbrook Foot Specialists Right For You?

Answer These Questions To Find Out Now

hollowbrook white logo
click for directions

Our Wappingers Falls
Podiatry Office
89 E. Main Street
Wappingers Falls, NY 12590

Phone: 845-298-9074

Office Hours:
Monday: 11am - 7pm
Tuesday: 9am - 5pm
Wednesday: 9am - 5pm
Thursday: 9am - 5pm
Friday: 9am - 3pm
Saturday: By Appointment Only

hollowbrook foot specialist office
white logo footer hollowbrook
Our Wappingers Falls
Podiatry Office
89 E. Main Street
Wappingers Falls, NY 12590

Phone: 845-298-9074

Office Hours:
Monday: 11am - 7pm
Tuesday: 9am - 5pm
Wednesday: 9am - 5pm
Thursday: 9am - 5pm
Friday: 9am - 3pm
Saturday: By appointment only

hollowbrook podiatry
american college of foot and ankle surgeon
podiatric medicine association
aapsm footer logo
apma logo

We Serve ALL The Following Cities & Their Surrounding Areas ...

Wappingers Falls, NY   |   Poughkeepsie, NY   |   Hopewell Junction, NY   |   Fishkill, NY   |   Beacon, NY

© 2019 - Hollowbrook Foot Specialists
Designed by JimmyMarketing.com