3

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 all my receipts, can I now transfer another $3k into my HSA and then withdraw it back to my regular checking account and have that outflow from my HSA count towards the medical expense? Or am I only allowed to pay for a medical expense if the money directly came from my HSA at the time of payment?

Also, there were some other qualifying medical expenses in April (before I opened the HSA). Again, assuming I have receipts for these, can I adjust that expense against my HSA balance?

  • Is your High.Deductible Health Plan (HDHP) single coverage or family coverage? – Ben Miller Oct 4 '15 at 11:27
4

Yes on the August expenses, No on the April; the expenses must have happened after the HSA was opened. Also, note that you're limited to (in 2015) $3350 of deposits to the HSA in a single year, so you can only put $2350 more into the HSA.

The IRS form for HSAs looks something like this:

1) How much money did you take from your HSA?
2) How much were your qualified medical expenses?
3) If (1) > (2), give us a bunch of money.

  • 1
    And if you're 55 or older, you can contribute an additional $1,000 (in 2015) per year. – blm Oct 2 '15 at 16:50
  • Awesome, thanks! I also found this question which might be a superset of mine. Apparently, leaving the money in HSA to accrue interest and then claim reimbursements several years later is an acceptable strategy. – hsa Oct 2 '15 at 20:01

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.