Health Savings Accounts

Employer contributions to the HSA of a qualified individual (determined monthly) are exempt from federal income tax withholding, social security tax, Medicare tax, and FUTA tax.
For 2013, the employer can contribute up to $3,250 for self-only coverage or $6,450 for family coverage to a qualified individual's HSA.
HSA holders 55 and older get to save an extra $1,000 which means $4,250 for an individual and $7,450 for a family) - and these contributions are 100% tax deductible from gross income.
Minimum annual deductibles are $1,250 for self-only coverage or $2,500 for family coverage. Annual out-of-pocket expenses (deductibles, co-payments and other amounts, but not premiums) cannot exceed $6,250 for self-only coverage and $12,500 for family coverage.

Individuals aged 55 and over may contribute an additional $1,000 above the maximum for each tax year.

Your HSA will be treated as your surviving spouse’s HSA, but only if your spouse is the named beneficiary. If there is no surviving spouse or your spouse is not the beneficiary, then the savings account will cease to be an HSA and will be included in the federal gross income of your estate or named beneficiary.

No, it can only be rolled over into another qualified HSA without incurring tax consequences.

You must be:1) Covered by qualified high deductible health insurance plan;2) Not covered under other health insurance;3) Not enrolled in Medicare; and 4) Not another person's dependent.
Other health insurance does not include coverage for the following: accidents, dental care, disability, long-term care, and vision care. Workers’ compensation, specified disease, and fixed indemnity coverage is permitted.

Yes, having an HSA in no way restricts your ability to have an IRA.

A HSA account is one created for individuals who are covered under high-deductible health plans (HDHPs) to save for medical expenses that HDHPs do not cover. Contributions are made into the account by the individual or the individual's employer and are limited to a maximum amount each year. The contributions are invested over time and can be used to pay for qualified medical expenses, which include most medical care such as dental, vision and over-the-counter drugs. To use a HSA you must not be enrolled in Medicare Part A or Part B and you must not be a dependent of another taxpayer.

The HSA account has three major tax savings. The money contributed into the account is tax deductible, it grows tax free, and certain withdrawals are tax free if they are for qualified medical expenses. To qualify for an HSA account, you must have coverage from a high-deductible health plan and you must not be enrolled in Medicare or be listed as a dependent on another person's tax return.

HSA contributions are reported on IRS Form 5498-SA.