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 this year. Out of pocket, the cost was ~$3,500. I had approximately $3,300 in my HSA account, so I used that first and paid the rest out of pocket with a debit card.
I am expecting a child later this year. Our first child was approximately a $12,000 hospital bill not including any lead-up appointments. As my health insurance is a HDHP, I have a $5,000 deductible. I have $5,016.67 that I can contribute before hitting my annual maximum ($6,650.00) in that account. I intend to max out my contributions to hit $5,000 for the rest of this year, meaning that all expenses related to my future child come from pre-tax HSA dollars.
Is there a similar limit on distributions from the HSA account as there is on contributions? I will be spending a total of $8,200 from this account during the year. I don't think there is and I haven't seen any documentation that states such but I wanted to be sure.
Thanks in advance.