Ametros Company FAQs →

Are members taxed on interest that the CareGuard account earns?

CareGuard establishes a bank account for the member that earns interest. Just like with any other bank account, the federal government taxes interest earned. The member will receive a 1099-INT if the account earns more than $10.00 in interest. For members with a Medicare Set Aside, according to Medicare’s guidelines, the funds in the MSA account can be used to pay for taxes on the interest earned by the account.

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