What is an Idaho Medical Savings Account and how does it work?

What is an Idaho Medical Savings Account and how does it work?

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What is an Idaho Medical Savings Account and how does it work? An Idaho Medical Savings Account is an account opened at an Idaho bank, credit union, or other qualified Idaho financial institution. Taxpayers can deduct amounts contributed, up to $2,000 ($4,000 on a married filing joint return), to the Idaho Medical Savings Account from their tax return. The funds contributed to the Idaho Medical Savings Account can be used to pay qualified medical expenses. Click the link for more information on the Idaho Medical Savings Account or contact Taxpayer Services by phone or e-mail and request a copy of the Idaho Medical Savings Account brochure. Be sure to include a mailing address. Back

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