Form 1099-SA – Distribution From a Medicare Advantage MSA
Medicare Part C (Medicare Advantage Plans) is another way to get your Medicare benefits. It combines Part A, Part B, and sometimes Part D (prescription drug) coverage. Medicare Advantage Plans are managed by private insurance companies approved by Medicare. These plans must cover medically necessary services.
Medicare C is reported on Form 1099-SA, Distributions from an HSA, Archer MSA, or Medicare Advantage MSA. The amount included in income is the amount not used to pay medical expenses. Generally, if you receive a taxable distribution, you must also pay an additional tax on the amount included in income. The additional tax for Medicare Advantage MSAs is 50%. See the SSA Who can get Medicare? publication for details.
To enter or review information from Form 1099-SA, follow the steps below.
Online
Dashboard
- From within your TaxAct return, click Income.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Explore More drop-down.
- Click Add beside Payments from an HSA or MSA (1099-SA).
- Complete the rest of the interview process.
Classic
- From within your TaxAct return, click Federal.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Other Income drop-down, then click MSA Distributions (Form 1099-SA).
- Complete the rest of the interview process.
Desktop
- From within your TaxAct return, click Federal.
- Click the Other Income drop-down, then click MSA Distributions (Form 1099-SA).
- Complete the rest of the interview process.