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Questions tagged [hsa]

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.

3
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0answers
36 views

What defines a transportation-related medical expense to be “primarily for, and essential to, medical care”?

I'm trying to understand which transportation-related medical expenses are IRS-Qualified Medical Expenses for health savings accounts (HSA). I understand that Publication 969 defines what HSAs are, ...
-4
votes
0answers
35 views

HSA Withdraw Money [closed]

Where do I go in the Website to withdraw funds from my HSA Account - auto transfer to my checking account - is there a form? Not easily finding this information.
0
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0answers
85 views

What if my employer deposited my HSA into the wrong account for two years? How do I rectify the situation?

What if my employer deposited my HSA into the wrong account for two years? How do I rectify the situation? 2017 and 2018 my HSA deposits were made to my checking account. How do we correct this error ...
4
votes
2answers
54 views

Do employer contributions to an HSA count towards contribution limits?

They 2019 HSA contribution limit for a single person is $3,500. If my employer contributes $500, does that mean I can only contribute $3,000, or can I still contribute the full $3,500?
2
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1answer
40 views

Do HSAs have income limits for deducting contributions?

Traditional IRAs have income limits for claiming contributions as deductions. Do HSAs also have income limits for claiming contributions as deductions?
2
votes
1answer
36 views

Contribution limits and deadlines for HSA clarification

Taken from here. Partial Year Contributions If you establish an HSA by at least December of any year, your maximum contribution is the maximum amount (described above) for that calendar year. ...
6
votes
1answer
74 views

Using a healthcare Flexible Spending Account at the same time as a Health Savings Account?

Here is my situation: I have the high deductible insurance plan. The coverage includes my wife, dependent daughter and mysef. I contribute to an HSA. My wife has her own insurance through her ...
5
votes
1answer
90 views

HSA and Medicare: what if I get laid off?

I'm approaching 65; will continue working for a large company; will not be taking Social Security; have a high deductible insurance plan through my company which I will continue using (so will not ...
0
votes
1answer
108 views

Why do most HSA administrators require accountholders to have a minimum amount in their HSA before they can open up an investment account?

I read on an article at Nerdwallet titled 5 Health Savings Account Rules You Need to Know (mirror): Irvine warns that the majority of HSA administrators require the accountholder to have a steep ...
2
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2answers
275 views

HSA withdrawals for past years?

A hypothetical individual living in the US opened an HSA account in 2016. She was enrolled in a high deductible health care plan in 2016, 2017, and 2019. She kept records of all her qualified medical ...
0
votes
1answer
52 views

Why does it take “3 to 5 business days” for the trades to execute with Health Equity HSA accounts?

When making a trade with Health Equity HSA account, there is a notification: NOTES: The number of shares or the amount of the trade is only an estimate. The exact amount will depend on the ...
2
votes
2answers
39 views

Correcting a post-tax HSA deposit?

Due to a payroll error at work, my HSA contribution got put in twice for the first pay week. Once pre-tax and once post-tax. The extra total amount being in there is fine as it won't cause any limit ...
11
votes
3answers
887 views

When is an HSA expense “incurred”?

Starting next year (2019), my family will be covered by an HSA plan. A member of my family is undergoing a medical treatment, starting on 12/27/2018, which will continue into March 2019. There is a ...
3
votes
1answer
40 views

Can I contribute to an HSA after HDHP coverage ends mid year

I had a family HDHP for the first 8 months of 2018, and while I opened an HSA account during that time. Can I continue to make contributions to my HSA between September 1st 2018 and April 15th 2019 (...
2
votes
1answer
80 views

ACA and HSA question - seems HSA policies are a lot more expensive in premium and out of pocket

I am looking at ACA coverages in CT. The HSA policies cost a couple hundred more per year (family of 4) and I pay 100% of all costs not excluded by the ACA until the full deductible is reached, then ...
2
votes
2answers
40 views

HSA payroll contributions and additional .9% medicare tax

HSA contributions through payroll deductions are generally exempt from FICA withholding. Does this apply to the additional .9% medicare tax for income > 200k? For example, after reaching 200k in W-2 ...
1
vote
1answer
60 views

I have a HDHP with an HSA through my employer as well as a non-HDHP through my parents. Am I still eligible for the HSA through my HDHP?

I have a HDHP with an HSA through my employer as well as a non-HDHP through my parents. Am I still eligible for the HSA through my HDHP? I have an HDHP with an HSA through my employer that I started ...
2
votes
2answers
84 views

HSA End of Year Contributions

If someone starts work half way through the year and makes out-of-paycheck contributions to their HSA account that amount to less than $3,450 (say they amount to $1,450), would they be able to deposit ...
1
vote
2answers
61 views

I have Multiple HSA accounts and want to confirm my established date is correct

My employer changed HSA providers in June 2016. We were HSA eligible since 2014 and the original account was established then. My wife had surgery April 2016 yet I was using funds from the June 16 ...
2
votes
1answer
51 views

Co-enrolled in HSA and Non-HSA health plans

I was unemployed for all of 2017. So, during open enrollment for 2018, my girlfriend’s company agreed to put me on her HSA health plan as a domestic partner. She and her company were contributing to ...
5
votes
3answers
1k views

Can I pay myself back later in the year if my HSA doesn't have adequate funds earlier in the year to pay for an expense?

We are being offered an HSA/High Deductible plan and my only concern would be if I had to incur a significant expense at the beginning of the year - no plans to but you never know, right? If I don't ...
2
votes
2answers
110 views

Open an HSA at another bank and transfer even if I am not qualified to contribute?

Last month, my girlfriend got a new job with good health insurance and an FSA account. She has an HSA account from her previous job and the custodian is dinging her with monthly fees because she's ...
3
votes
1answer
74 views

HSA unemployement lump sum

What are IRS rules regarding employment termination and employee pre-tax lump sum contribution to HSA account? i.e. Jan 2019, Feb 2019 employee contributes 100 a week for total of $800 in HSA. ...
1
vote
0answers
28 views

Health Management Reimbursement Accounts (HMRAs / HMAs)

I recently heard about an interesting alternative to HSAs called "Health Matching Account Services" ("HMRAs"/"HMAs"). However, most of what I can find out about them is on the very website of their ...
4
votes
1answer
78 views

Deduction for HSA contributions when MFS

Assume the following scenario for married couple living in the US: Both spouses have coverage under the High Deductible Health Plan (HDHP) of spouse A Spouse B does not have coverage under any other ...
0
votes
1answer
74 views

Can we have both HSA and DCFSA

I was covered by my wife's HDHP with HSA plan from her employer with a deductible of 2500 (individual)/5000 (family). We recently became parents of a beautiful baby girl.I want to opt for health ...
-1
votes
1answer
43 views

HSA Distribution Reversal Challenges

I had been paying out of network dental providers the full amount on day of service with my Cigna HSA debit card. Then I received checks for the part insurance covers and deposited those in my bank ...
2
votes
2answers
475 views

What is the difference between a Health Savings Account (HSA) and a regular savings account through a bank?

What is the difference between a Health Savings Account (HSA) and a regular savings account that I might set up through my bank? I presume that withdrawals from an HSA can only be made for health ...
2
votes
1answer
48 views

What are the HSA limits with spouse having separate health plan and me with a child?

According to the open enrollment table in my HR guide, the 2019 HSA limits are: EE Only $3,500 EE + Spouse or EE + Child(ren) $7,000 My spouse has her own HDHP ...
1
vote
2answers
100 views

HSA deduction vs medical expenses

My understanding is that medical insurance premiums are not valid expenses for an HSA - but that they are deductible if you deduct your medical expenses - at least the part above 7.5% of income. ...
0
votes
1answer
64 views

How can all medical expenses be deducted from taxable income for a business with owner and 1 other employee?

How would I best set things up so as to fully fund my and my employees healthcare and reduce taxable income. I am am considering forming an LLC or S-Corp but don't know the pros and cons in this ...
3
votes
1answer
177 views

My dependent is covered by both HDHP and non-HDHP insurance plans - is this legal?

I cover my husband and stepchild on my HDHP insurance with an HSA account. Recently, we discovered that the child's mother purchased insurance to cover herself and her children, including my stepchild....
1
vote
2answers
95 views

HSA contributions - Tax-deductible vs pre-tax

I read the following on opm.gov: Your own HSA contributions are tax–deductible. Your own HSA contributions are either tax–deductible or pre–tax (if made by payroll deduction). I'm confused by ...
1
vote
1answer
90 views

Wash Sale Treatment Using Different Tax Advantaged Accounts [duplicate]

As a follow-up to this question: Wash sale rule impact on different scenarios between different types of accounts Do HSAs and 401k's fall under the same treatment as IRAs when computing tax losses? ...
4
votes
1answer
114 views

Am I subject to penalties if I accidentally transfer money to my HSA?

My bank lists my HSA next to my other checking and savings accounts. Sometimes I'll save money to an emergency savings fund I have. What if I transfer to the wrong account in error, and correct the ...
1
vote
1answer
63 views

Changing FSA vs HSA contributions mid-year

Am I understanding things properly that HSA's allow arbitrary annual contribution changes mid-year so long as they are within the maximum amount for that year while for FSA accounts you elect your ...
2
votes
1answer
49 views

Wife - HSA/HDHP -Husband traditional & HRA - wife receive $ from H HRA?

I currently have a HDHP/HSA individual plan through my employer. I have no coverage for health care and prescriptions, through my current plan until I meet my deductible of $3,000. After I payout $3,...
0
votes
1answer
73 views

Leaving a High-Deductible Health Plan (HDHP) during the year: can one still fully contribute to one's HSA? [duplicate]

Bob has a High-Deductible Health Plan (HDHP) and wants to maximize his contributions to his Health Savings Account (HSA). At some point during the year, Bob changes his health insurance from an HDHP ...
4
votes
1answer
406 views

Can I use an HSA to reimburse myself for expenses that would have been covered by my insurance?

Suppose I pay $200 to cover a medical expense. Also suppose that my insurance would only cover $10 of this and so I don’t even bother submitting a claim. Would I be eligible later to withdraw the full ...
3
votes
2answers
68 views

Can I Open A Personal HSA with a Bank to Pay Qualified Expenses Incurred When I was Covered by a Company-Sponsored HDHP?

I had a company-sponsored HDHP, which included a company-sponsored HSA. Both I and my employer cotributed. The first contribution to this HSA came two months after I started with the company; it was,...
0
votes
1answer
97 views

Switching benefits provider from HSA to FSA. Can I continue to claim the cost of my LASIK surgery?

I joined my current company in January and chose a Kaiser Permanente health insurance plan with a Health Savings Account (HSA), and chose the maximum contribution of $3,450 per year. The contributions ...
2
votes
1answer
53 views

HSA distribution for deferred insurance payment

My daughter recently started an orthodontics program that will last 13 months. We've covered the entire program cost up-front already. She is covered on my wife's insurance, and that will pay about ...
1
vote
1answer
128 views

Can I force my company to print a new, accurate, copy of my 2016 W-2?

Back in 2016 the company I work for went through a huge transition. Lots of things changed, but the relevant part is that early in the year we switched accounting systems and HSA providers. When I ...
2
votes
1answer
71 views

Can combined contributions to tax advantaged accounts exceed gross income?

If I am eligible to contribute to several IRS-recognized tax advantaged accounts that have separate limits (HSA, 401K, 457, IRA, etc) can I fund the contributions with prior savings when my gross ...
2
votes
2answers
86 views

What is the difference between HSA and HSA Checking account?

Before I always thought HSA is savings account, but recently I saw some banks providing HSA Checking. What is the difference between HSA and HSA Checking account? Are HSA and HSA Checking having ...
0
votes
1answer
34 views

Post tax HSA contribution but did not have HDHP for that year

I have an existing HSA but did not have a qualifed HDHP in 2017. I enrolled in a HSA-qualified HDHP for 2018 and made a post-tax contribution to my HSA in January, 2018 but it was applied to 2017. My ...
4
votes
1answer
50 views

Can you keep HSA funds if you change to a non-HDHP?

If one participates in a high deductible health plan and health savings account, then later transitions to a normal health plan that does not qualify for HSA what happens to the account? Are the funds ...
4
votes
2answers
74 views

Is it possible to use HSA funds to cover a medical expense billed to a different insurance plan, which is not a HDHP?

Long time lurker, but I have a question that I'd like some help with. Earlier this year my contract/government job switched companies so I had to sign up for new benefits. Company 1's benefits were ...
0
votes
0answers
71 views

HSA showing as taxable income on TurboTax [duplicate]

Do contributions to my HSA that I make through a payroll deduction add to my gross income on my 2017 federal income taxes?
2
votes
0answers
206 views

I overlooked to file Form 8889 (HSA contribution) on my tax return. Should I file an amended return?

I filed a 1040NR-EZ tax return. Only after I mailed it, I realized that I had an HSA which requires Form 8889 and the non-simplified 1040NR to be filed. My W-2 does show a W contribution in Box 12. ...