2024 Form 8853 Archer MSAs and Long-Term Care Insurance Contracts-2025

See details

4.6 out of 5

35 votes

The document is Form 8853 for the year 2024, used to report Archer Medical Savings Accounts (MSAs) and Long-Term Care Insurance Contracts. It includes sections for reporting contributions, deductions, distributions from Archer MSAs and Medicare Advantage MSAs, as well as details regarding long-term care insurance payments. Taxpayers must complete specific parts based on their health plans and insurance contracts, ensuring compliance with IRS regulations.

Here's how it works

01. Edit your form 8853 online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send irs form 8853 via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out 2024 Form 8853 Archer MSAs and Long-Term Care Insurance Contracts with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the 2024 Form 8853 in the editor.
Begin by entering your name(s) and social security number at the top of the form. Ensure accuracy as this information is crucial for processing.
In Section A, if applicable, complete Part I regarding Archer MSA Contributions and Deductions. Fill in lines for employer contributions, personal contributions, and deductions as instructed.
Proceed to Part II to report Archer MSA Distributions. Carefully enter total distributions received and any unreimbursed qualified medical expenses.
If you have Medicare Advantage MSAs, complete Section B by detailing distributions received and any applicable unreimbursed expenses.
Finally, move to Section C for Long-Term Care Insurance Contracts. Input relevant details about payments received and costs incurred during the LTC period.

Start using our platform today to fill out your forms online for free!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the difference between a MSA and HSA?

What is the difference between an MSA and HSA? Medical Savings Accounts are only available to people enrolled in high-deductible Medicare plans, whereas Health Savings Accounts are restricted to people enrolled in high-deductible private insurance plans.

Do I need to file form 8853?

You need to file Form 8853 if you contribute to an Archer MSA, receive distributions, inherit an MSA, or receive taxable payments from long-term care insurance or accelerated death benefits.

What is an archer MSA?

A Medical Savings Account (MSA), often referred to as an Archer MSA, is a way for self-employed persons and employees of small business to save money to pay for medical costs.

What is an MSA archer?

Health and Life Insurance. A Medical Savings Account (MSA), often referred to as an Archer MSA, is a way for self-employed persons and employees of small business to save money to pay for medical costs.

What is a qualified LTC contract?

(1) In general The term qualified long-term care insurance contract means any insurance contract if (A) the only insurance protection provided under such contract is coverage of qualified long-term care services, (B) such contract does not pay or reimburse expenses incurred for services or items to the extent that

8853 form

Form 8889 Form 8853 instructions Form 8853 PDF Form 8853 or 8889 Form 8853 TurboTax Form 8889 instructions Form 8889 instructions 2024 Archer MSA contribution limits 2024

What is 8853?

Use Form 8853 to: Report Archer MSA contributions (including employer contributions), Figure your Archer MSA deduction, Report distributions from Archer MSAs or Medicare Advantage MSAs, Report taxable payments from long-term care (LTC) insurance contracts, or.

Is Archer MSA the same as HSA?

Archer MSA - Archer MSAs were the program that came before HSAs. MSAs are only available to self-employed individuals or people who are employed by a company with 50 or fewer employees. Like with an HSA, you need to be enrolled in a HDHP to be eligible.