for questions that relate to the health savings accounts. An HSA is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plans.

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1answer
28 views

Removed Excess Contribution HSA in next calendar year, received 1099-SA in current year

For Tax Year 2012 I had an excess contribution to my HSA. In calendar year 2013, before the filing deadline I removed the excess contribution to avoid the penalty. However, the bank holding my HSA ...
3
votes
3answers
167 views

I'm getting gouged on prices for medical services when using my HSA plan. How to be billed fairly?

I had never given a second thought to the details of the bills that my health insurance (HI) company used to send me until I moved to a HSA plan. My typical (before the HSA plan) bill claim would be ...
3
votes
1answer
57 views

Max up HSA contribution for 2013

I and my employer made less than $3250 contribution to my HSA in 2013. I heard that I could still make contribution for 2013 before 4/15/2014. If this is true, and I deposit my personal money to HSA ...
4
votes
2answers
67 views

Are HSA administrative fees considered distributions?

Upon leaving my previous employer my HSA custodian started dinging me with a monthly "administrative billing fee". I've taken no non-qualified distributions from the HSA but received a 1099-SA with a ...
3
votes
3answers
520 views

How should pre-tax contributions to an HSA show up on a W2?

How should pre-tax contributions to an HSA account show up on a W2 from an employer? I thought they would show up like 401k or similar but that doesn't appear to be the case. If I made $50K and put ...
7
votes
2answers
87 views

Can a US expat have and use an HSA for the tax benefits while living abroad?

I am a US expat living abroad. As some of you may know, I still have to pay US taxes on my foreign income, even though I've been abroad for more than 5 years. That said, I obviously want to minimize ...
2
votes
2answers
39 views

How are HSA contribution limits calculated when filing taxes jointly?

My wife and I both have HSA accounts, which we intend to max out. We are not dependents on either's accounts not any other dependents in each of the accounts. We also can easily max out the single ...
1
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1answer
57 views

How can I withdraw a mistaken HSA contribution?

I had an automatic contribution to my HSA set up, and forgot about it. When the new year came, my health coverage changed, and I'm currently not eligible to contribute to the HSA, but an automatic ...
3
votes
1answer
57 views

Initial investment limit for an HSA? An IRA?

A fairly simple question but I had troubles finding the answer. (Apologies if the answer is well-known.) HSAs have a yearly contribution limit, as do IRAs. However, is there a maximum limit for the ...
3
votes
1answer
150 views

Does it make sense to max out contributions earlier in the year?

Let's say a person is making regular monthly contributions to his/her Roth IRA, HSA, and 401K with employer match, up to annual limits. All contributions are put into index funds. Assuming this person ...
0
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1answer
934 views

California state taxes on Health Savings Accounts

I recently started an HSA. For federal income taxes this is a great deal because I get to contribute pre-tax and take tax-free distributions for medical expenses, or after age 65 I can take ...
2
votes
1answer
98 views

Is there a problem with buying small amounts of a no-fee mutual fund every two weeks?

I am treating my HSA as a retirement account. To max it out I contribute about $100 every pay period (roughly every two weeks) pre-tax, plus employer contributions sprinkled in occasionally. Once I ...
8
votes
1answer
139 views

What happens to an HSA when I am no longer eligible to contribute?

Can I still make qualified distributions from an HSA (Health Savings Account) if I am no longer eligible to contribute? Otherwise, what happens to any remaining balance in the HSA? Example: Say I ...
3
votes
1answer
538 views

If I don't participate in my employer-sponsored FSA, can I open my own HSA?

My employer offers/manages an FSA (Flexible Spending Account) as part of my health care plan. I put in $800 last year and barely managed to use it up, including expenses in the allowed grace period ...
5
votes
1answer
92 views

Rules about spouse's HSA

My spouse and 2 kids have high deductible insurance, but I do not. If my spouse contributes to an HSA, could that money be used for my medical expenses, or only for expenses for the rest of the ...
6
votes
2answers
2k views

Can I change banks for my HSA account?

My employer provides a High-deductible health plan with HSA option. One thing I was surprised by was how many fees were associated with the HSA account offered through my employer (the HSA is ...
6
votes
1answer
188 views

HSA qualification and contributing with multiple HDHPs?

So I've read the IRS publications and I'm still kind of confused. I have single coverage on my employer's health plan with a qualified HDHP and along with an HSA. This is pretty clear cut. I am ...
6
votes
1answer
77 views

HSA without a HDHP [USA]

I had an HSA with an HDHP with a former employeer. I left that company and now have a traditional health insurance plan. Should I continue to contribute to my old HSA account? Are there any tax ...
3
votes
1answer
96 views

HSA: Is the employer responsible for reviewing medical expenses? Are employer-made HSA contributions deductible health care expenses?

Two questions. Is the employer responsible for reviewing medical expenses? Are employer-made HSA contributions deductible health care expenses?
6
votes
1answer
536 views

Can I get a rebate after using my HSA?

I used an HSA to buy some contact lenses. They came with a rebate form that I can send in to get a refund of about 1/5 of the purchase price. Is it okay to send away for the refund after using the ...
7
votes
1answer
69 views

Am I elligible to contribute to an HSA plan if my spouse is on Medicare?

I'm a little confused about the IRS qualification rules for an HSA account specifically with respect to Medicare. The eligibility rules state that You must not be currently enrolled in Medicare. So, ...
-2
votes
2answers
146 views

Why are some health insurances marked as not HSA eligible but meet the IRS's requirements?

When comparing two different CareFirst plans, they are almost exactly the same (deductible, coverages, etc) however for "HSA" one of the plan says not eligible while the other says eligible. I have ...
2
votes
1answer
80 views

Withdrawing qualified HSA expenses many years later, to earn interest?

Say I have $2000 in my HSA account and have a $1000 medical bill in 2012. If I were to pay the $1000 bill out of pocket and let that $1k left earn interest in my HSA for a significant amount of time ...
9
votes
2answers
134 views

Tools for comparing costs between different healthcare providers?

I have a high deductible health insurance plan. That means the first $2000 or so expenses per year are not covered by my insurance. What's a good way to compare health care costs from different ...
6
votes
2answers
176 views

When can I roll over a HSA?

I have a health savings account with a high-deductible health plan. Because my employer pays less for the plan than for other insurance options, they are willing to contribute money to my HSA account ...
13
votes
2answers
319 views

Using a Health Savings Account (HSA) as an investment vehicle: What are the drawbacks?

For next year, my company has started offering an HDHP with an HSA. With this, they will contribute $500 per year flat, and 50% matching up to $500 (where they will match $250; up to $750 total). I ...
8
votes
3answers
2k views

Treat HSA as an IRA?

As I understand it, any funds remaining in a Health Savings Account can be withdrawn for any purpose at age 59 1/2 (subject to ordinary income tax), making an HSA essentially behave like an IRA. Is ...
3
votes
1answer
343 views

Self-managed IRA account brokerage as an HSA?

Most specific than this question, I'm desperately seeking a TD Ameritrade or E-Trade type online brokerage that offers self managed HSAs to accompany an HDHP. I cannot find one. Is there another key ...
8
votes
3answers
177 views

Who could afford a higher annual deductible who couldn't afford a higher monthly payment?

I'm comparing some health insurance plans with Humana, and trying to understand the relationship between the price tiers. For a single HDHP plan, they have these price options: $1,500 Deductible - ...
5
votes
2answers
119 views

What is the relationship between a HDHP and an HSA?

I'm confused about how a HDHP and a HSA relate. I understand that there are tax advantages and the money in an HSA is yours to keep. Like any other health plan, an HSA-compatible plan, the ...
6
votes
3answers
7k views

How do I withdraw funds from my Health Savings Account?

I have recently opened a Health Savings Account (HSA) with Bank of America. Do I need to associate it with a health plan? How does that work? Bank of America has set up a HSA for me to make ...
4
votes
3answers
244 views

Limit on monthly HSA withdrawals? [USA]

I got a nastygram from my bank because we made >6 withdrawals from our HSA last month. According to them, the limit of 6 withdrawals is a federal regulation. I'm familiar with this for normal savings ...
8
votes
2answers
206 views

How can I find/compare custodians for my HSA in the United States?

I have a high-deductible health plan that qualifies me to open an HSA (Health Savings Account). Where are good places to find an HSA in the US? What sorts of features should I look for? What extra ...
2
votes
3answers
134 views

How long do you need to have High Deductible insurance before contributing to an HSA?

I am just about to leave my high deductible plan for a plan that is not HSA-eligible. As I understand it, I could max out my HSA for the year right now, and then I could use the money in my HSA for ...
20
votes
4answers
923 views

Pros/Cons of a Health Savings Account (HSA) in the USA?

I am wanting to know the real benefits or pros/cons of a HSA in the USA. I have now been given the option of signing up for one due to healthcare changes. I understand some of the basics, but after ...