For questions that relate to health savings accounts in the USA and health spending accounts in Canada, and any similar accounts in other jurisdictions. Use with an appropriate country tag.

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5
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3answers
672 views

Why do HSA qualifying plans have a max deductible?

In order to be eligible to make tax deductible contributions to an HSA account, you must have a qualifying HDHP (High deductible health plan). Among the requirements, is a deductible and max OOP ...
5
votes
2answers
83 views

Can I use my HSA debit card to pay for vaccinations?

I am about to go on safaris in South Africa and Zambia and need to be vaccinated against a few diseases. The IRS publication 502 doesn't mention vaccinations explicitly, but does state that ...
1
vote
1answer
25 views

Correcting HSA contribution due to transfer of children's HDHP

I contributed the max ($6,750 for family in 2016). Now a court has ordered that my ex-wife take over health insurance for the kids, so my HDHP will cover only me, making my contribution max $3,350 for ...
4
votes
2answers
92 views

Should I prioritize retirement savings inside of my HSA?

This year I switched my family from a traditional PPO plan to a high deductible plan with an HSA. This is a great move for our family. I have been reading about using an HSA as an investment vehicle ...
0
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0answers
17 views

I contributed to an HSA in 2014 that was supposed to be for the previous year, but wasn't

When I contributed to my HSA in 2014, it was supposed to be for the year 2013. This wasn't done. Can I correct this? Thanks,
2
votes
1answer
45 views

Allowed to make a post-tax HSA contribution if pre-tax contributions are available through employer?

I have a HSA, and my employer allows pre-tax HSA contributions. I'm working on my 2015 taxes and it turns out it would be beneficial to make a contribution now for 2015 (which I believe is possible?) ...
1
vote
1answer
62 views

L1 visa: HSA account vs 401k plan

I have recently relocated to USA. I am currently trying to figure out my options regarding my savings. My understanding is that I can contribute up to $18500 into 401k and up to $6750 into HSA. My ...
3
votes
0answers
63 views

Living abroad with Mexican insurance and HSA contribution

I am United States Citizen. I lived in Mexico all of 2015, I had a high deductible health plan (HDHP) from a Mexican insurance company all of 2015 as well. My plan meets United States IRS HDHP ...
1
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2answers
104 views

Choosing between an HSA and PPO

I need to choose between a PPO and HSA plan offered by my employer and it seems like the "obvious" choice is the HSA plan but I fear that I am missing something that will come back to bit me later. ...
4
votes
1answer
95 views

HSA excess contribution in 2015 moved to 2016 contribution, W-2 shows total amount including excess

TL;DR: my W-2 indicates that my HSA contribution for 2015 is $4137. I had my bank move the 2015 excess contribution ($787) to 2016's contributions. Is it OK to change the value reported on my taxes (W-...
1
vote
1answer
96 views

Have you handled a Health Savings Account on your Alabama/California/NJ state tax returns?

I'm looking at https://www.bogleheads.org/wiki/Health_savings_account#State_taxation_of_HSAs where it says "you are required to keep good records, track the state cost basis manually, and report HSA ...
3
votes
1answer
103 views

What do I enter for my “2010 HSA, less 2011-2014 distributions” when my HSA started EOY 2011?

TurboTax is pretty insistent that I put something in this field, corresponding to the Wisconsin adjustments worksheet. The field says: Balance of HSA as of Dec 31, 2010, less amt distributed in ...
3
votes
2answers
461 views

Can a reimbursable medical expense be paid from an HSA?

Can a qualified medical expense for which the HSA account holder knows will be reimbursed by his insurance be paid from his HSA? If so, is the subsequent insurance reimbursement considered a ...
1
vote
1answer
46 views

Can my spouse and I file jointly if I have an HSA and she has an FSA?

My spouse has an FSA account, and I have an HSA account. We are on separate health insurance (mine is eligible for an HSA account). Are we allowed to file jointly or do we have to file separately?
3
votes
2answers
125 views

Using two health insurance providers?

When I was hired I chose to be included in the company's health insurance policy and to have an HSA opened since my company makes a yearly contribution. However, I am still under 26 and could be ...
4
votes
1answer
68 views

Tax year of HSA contributions on W-2

Payroll is done in arrears on the first of the month. HR promised that HSA contributions for the beginning-of-January 2016 payroll would go in for the 2015 tax year. To make things easier, HR sent ...
1
vote
1answer
76 views

What happens when you cash out an HSA?

If you cash out a 401k before you're old enough you get a 1099-R. What happens if you cash out an HSA? Do you get a 1099-R or some other sort of 1099?
6
votes
3answers
864 views

Can I use an HSA to pay off medical debts incurred before the HSA was funded?

Let's say that in year A I had a medical insurance plan without an associated health savings account, and incurred some medical expenses (co-pays, deductibles). I didn't pay them that year; they may ...
0
votes
1answer
446 views

Penalty for cashing out HSA on permanently leaving the country? [duplicate]

I understand that if you want to cash out your HSA you are expected to pay tax and some penalty on that money. The tax part I understand. But what is this penalty exactly and how much would it be? And ...
3
votes
0answers
42 views

Are there tax implications of refund of overpayment from HSA? [duplicate]

possibly related: How do I correct an HSA distribution when I was refunded by a health provider?, Can I get a rebate after using my HSA? (But I don't really understand the topic and those questions ...
1
vote
1answer
285 views

Dual coverage and HSAs

Both my wife and I are currently (2015) covered as dependents under our parents' health plans. I'm 100% sure that both plans are HDHPs. I'm currently in open enrollment for my employer, and I want to ...
5
votes
1answer
281 views

Is there any state tax (California) advantage to putting money into a limited purpose FSA versus putting it all into an HSA?

For example, I will not be contributing enough to max out my HSA contributions, so would there be any benefit to putting extra money for my child's braces into the LPFSA, or should I just put it all ...
2
votes
0answers
16 views

HSA contribution with post-tax money [duplicate]

Are there any disadvantages to funding a HSA with post-tax dollars (taxable account) as opposed to pre-tax dollars (i.e. payroll deduction)? My understanding is that you can still use Form 8889 to ...
4
votes
1answer
168 views

Can I pay for my wife's hospital bill from my HSA?

My wife is on a different insurance plan than me. Different provider and all. I have a HSA that my employer and I contribute to every paycheck. Can I pay for my wife's hospital bill with my HSA ...
1
vote
1answer
65 views

Transfer money to HSA and then withdraw after paying for expense

I have a HSA opened in June with a $1k opening balance. Sometime in August, I had a medical bill totaling $3k and I absent-mindedly paid for it out of my regular checking account. Assuming I have ...
0
votes
2answers
193 views

Recovering from HSA deposit coded to the wrong year?

On April 15 2015 a family member contributed $3000 to HSA #1, intending it to be coded as a 2014 contribution. It however missed the custodian's 1pm Eastern cutoff time by a few seconds and was coded ...
2
votes
1answer
62 views

HSA contribution cap on a new HDHP plan?

What is the HSA contribution cap for single enrollment in a HDHP partway into the year? Assume that the participant was not previously enrolled in any other health plan has not made any HSA ...
3
votes
1answer
50 views

HSA and FSA Concurrently

Our family's health insurance is through my wife's job and it is a high deductible plan. She opened and started contributing to an HSA in 2014. I started contributing to an FSA through my job in 2015 ...
2
votes
1answer
73 views

Will an HSA save me money on chiropractic or dental?

I live in NJ and have a full time Job. I am mid 35's and my friend is on mid 45's. We both have our Health Insurance. However, it doesn't support Chiropractors or Dental. Will having an HSA Account ...
8
votes
2answers
563 views

What if an employer sets up and contributes to an HSA for an ineligible employee - can he withdraw the excess contributions with no penalty?

My son is 21 years old and starting his first job. He is covered under my health insurance, which is a non-HDHP PPO, until he turns 26. (Because I have other children, I wouldn't save any money by ...
4
votes
1answer
161 views

What happens to HSA money when you die?

Say I had $10,000 USD in a Health Savings Account. What would happen to that money when I died? Would my heirs get it? Would it go into an HSA account for them, or could they just get the raw cash ...
6
votes
2answers
3k views

Can a self-employed person have a Health Savings Account?

Who can establish a Health Savings Account? I am self-employed with an IRA and SEP accounts. My health insurance is provided through my Husband's employer. My husband has a HSA through his employer....
3
votes
1answer
259 views

What happens to investment gains and distributions inside an HSA?

I did some research and it turns out that you can invest funds that you have in your Health Savings Account in certain things. If I invest $5,000 from my HSA into a Mutual Fund (which is acceptable) ...
1
vote
2answers
602 views

How do I withdraw all money from my HSA account as a non-resident?

I have lived in US for 5 years, and I (still) have an HSA account with BoA. Now I am living in Europe, and there's a fat chance I'll ever go back to live in US, so I would like to withdraw the money ...
2
votes
1answer
586 views

What happens if I have an HSA while here on an H1B work visa and I permanently leave the United States?

I am currently in the US on work visa (H1B) and have been contributing to a HSA account. If I leave the country at a future point of time, what happens to this account and would it be possible for me ...
3
votes
3answers
375 views

Options for HSA with no high deductible plan

I had an employer that offered a high deductible plan with an HSA. I have since moved employers and my new employer does not offer a high deductible plan. At first, I thought I would just keep my ...
2
votes
0answers
60 views

How do I gracefully transition from a standard medical plan to an HDHP with a non-calendar plan year and multiple FSAs?

My family is on my wife's insurance and FSA which is on a non-calendar plan year (June to July), with the additional FSA through my employer which is on a standard calendar plan year (January to ...
2
votes
1answer
97 views

Is my wife eligible for an HSA?

I had an HSA with a previous job but I no longer work there and am no longer contributing to it. I still have the account and there is still money in it. My wife recently got a new job as well and ...
2
votes
3answers
68 views

Health Savings Account Distribution Maximums

I had foregone Dental Insurance this year because all previous years I had spent more paying for the insurance than any procedures cost. Naturally, I had to have a tooth removed and an implant put in ...
3
votes
2answers
4k views

Can I enroll in an FSA if my employer doesn't offer it?

I'm really REALLY interested in opening an FSA. I've asked my employer and they say they don't offer it. We have insurance through them with BCBSGA. It isn't a HSA qualified plan. So is there a way to ...
0
votes
3answers
155 views

Can a custodian refuse prior-year IRA/HSA deposit postmarked April 15?

When switching from a bank to a credit union for an HSA. The old bank had the following text on the DEPOSIT SLIP, which was provided in the envelope together with their VISA debit card: Prior ...
5
votes
2answers
4k views

How do I correct an HSA distribution when I was refunded by a health provider?

At work I'm covered by an HDHP with an HSA. My dentist has the policy of estimating the amount that my insurance will cover and asking for the remainder at the time of service. On my most recent ...
2
votes
0answers
65 views

Laid off what happens to FSA money? [duplicate]

My husband was laid off from his job and he had an FSA healthcare account. The account shows there is over $600 available. What happens to that money now that he's laid off and no longer worker for ...
3
votes
1answer
169 views

Can return fees be reimbursed from an HSA?

Suppose I buy some prescription eyeglasses from an online site. Then suppose after I get them I decide I don't like them, and I return them. In such a case, the seller may charge me some fee (e.g., ...
2
votes
1answer
155 views

How do I enter my HSA in Turbo Tax Online?

I changed jobs last year. My old company offered an HSA and my new one doesn't. I used my HSA for medical expenses totaling about $700. There is still some money in it, I think. I'm not really ...
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0answers
59 views

Part III of Form 8889 (2014)

I don't understand Part III of Form 8889. I was an "eligible individual" for the entire year of 2014. I believe this requires me to input $3300 on Line 18. Is this correct? I had $297.78 gross ...
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0answers
123 views

Filling form 8889 Part I and form 1040 line 25

I started contributing to HSA last year and have some doubt about claiming the tax deduction. My situation is as follows: I enrolled in HDHP plan starting May 20th 2014. I am still enrolled in the ...
2
votes
1answer
859 views

Flex spending accounts and hsa when changing jobs

I have 2 issues related to a job change and my FSA with my previous employer I gave a two week notice on 2/23/2015. The employer chose not to keep me in the office for those 2 weeks, but would pay ...
4
votes
1answer
501 views

What is the penalty for having an HSA and Medicare?

If I open a HSA my employer will contribute $1000 yearly, but I am not supposed to contribute to an HSA because I have Medicare Part A. What is the penalty for contributing to an HSA when you have ...
4
votes
1answer
196 views

Do I have to wash money through HSA account?

I paid for my eligible health expenses from my regular account at the end of 2014 and beginning of 2015 because I did not have enough money on my HSA account. Now that I realize that I can contribute ...