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. Must include an appropriate country tag.

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2answers
79 views

How do I document “cash” disbursements from an HSA?

Fairly simply question here - I had a (HealthEquity) Health Savings Account last year and, due to changing jobs, switched to a traditional plan just before the end of the year. Most of it was fairly ...
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2answers
77 views

HSA payback possible?

Is it possible to payback my HSA? I used my HSA to pay a medical bill in 2019. I now have the money to pay that bill, and would like to keep my HSA buffed up
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1answer
114 views

HSA vs. Health Sharing Ministries

Have you seen a comparison of Health Sharing Ministry Plans vs. HDHP plans when the health sharing plan is provided by your employer & HDHP is personal? Is the savings from the employer provided ...
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1answer
210 views

Why does increasing my W2 HSA contribution in TurboTax INCREASE my tax due?

TurboTax becomes more inscrutable every year. I was looking for where to report my HSA contribution, then realized it already came in on my W2. I have a $6000 line 12, code W (Employer contributions ...
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0answers
45 views

How are US Health Saving Account (HSA) taxed in Canada for a Canadian citizen, not a US citizen?

The HSA in question is founded while legally working in the US and being a US tax resident. However, I'm thinking of coming back to Canada. Are they just considered as a normal account? Therefore, ...
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4answers
2k views

Does an HSA have to be used exclusively for medical expenses

I had an HSA last year. This year I have health insurance through ACA. Does the HSA money have to be used exclusively for medical expenses?
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2answers
207 views

Can my employer change my HSA account to a HRA account?

I have a HSA through which my employer gives me $1000 a year. When I turned 65, I decided to bypass Medicare so I could keep my HSA, employer contribution, and my monthly contribution. Now at 67 I am ...
3
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1answer
189 views

HSA Contribution Limit Question - Fun Situation

Here is the situation and what I would like to do: My wife and I are on separate HDHP with our respective employers, which means we are eligible for 2 HSA accounts and 2 solo limits for a total of $...
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1answer
97 views

Can a Health Savings Account be opened two related people?

If a daughter is self-employed (not W2) and sets up a HSA, Is it possible to setup an HSA account in the name of the mother & daughter? The goal is to have the options to pay for in-scope ...
3
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1answer
103 views

Can I use a mistaken HSA distribution towards other expenses rather than put it back in the HSA?

My wife had several doctors appointments between August of 2018 and May of 2019. As it turned out, we pre-paid for appointments that insurance ended up paying for in full. The doctor used the credit ...
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1answer
81 views

Tax Calculation for 2019 Self Employed

Currently, I am self employed and I am going to file tax with my spouse. I have below questions on self employment tax. Do I need to pay 15.3 percent social and medicare self employment tax before or ...
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2answers
56 views

Accidental HSA Contribution to Previous Year

Never previously being eligible for an HSA, I switched to a new health care plan with an HSA effective at the start of 2019. I made a couple of contributions at the beginning of the year. Some time ...
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2answers
286 views

Past employer wants to sue for over contribution on their part to my HSA. years 2017 and 2018 can they do this?

My previous employer (March of 2019) has discovered that they were paying into my HSA account the amount for a family when I am a single person. This happened in 2017 and 2018, the amount they ...
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1answer
61 views

Independent contractor self-insured HSA/ACA compliant plan

Without delving into the political motivations behind my intent at why I would want to pursue such a plan, I'm looking for some information regarding setting up a self-funded health insurance plan. ...
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3answers
573 views

What is a deductible?

New grad just out of college and working at a job that is asking me how much I want to contribute to my HSA. My medical plan deductible is $3,000 and I am a single filer (when it comes to tax) so I ...
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2answers
116 views

No-Deductible plan or High Deductible HSA plan?

The Company I work for is offering two Insurance options starting this year. One being the No-deductible plan I am currently on, and the other being a 1500$ deductible plan with an HSA that they will ...
2
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1answer
109 views

HSA and tax free investing

The below is a quote from another HSA question's comment: I agree. To your point the best course of action would be to max out your HSA contributions, not distribute them even if you can, invest ...
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1answer
34 views

Will I be Taxed for Switching HSA Providers?

I always thought the HSA provider assigned to me by my employer was my only option, but recently read that I am free to choose my own. If the account has grown beyond the size of my contributions, ...
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1answer
70 views

Can both spouses claim Family Employer Contribution?

2 spouses (X and Y) with 2 kids (x and y). They both work and both their employers offer HSA plans with Employer Contribution. X works for company XXX that offers 600$ for Employee and 1200$ for ...
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5answers
2k views

Getting health insurance with the highest deductible and putting the savings in HSA

I'm thinking about getting the highest deductible plan for next year, which would save us a lot of money. With that money, I'm planning to put all the savings (and some more) into our HSA account. We ...
3
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1answer
105 views

HSA over-contribution if I lose my job part way through the year

My employer provides my health insurance as part of my compensation and benefits package. It is a qualifying HDHP and as such every year I generally max out my HSA, either through payroll deductions ...
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2answers
61 views

Moving from individual HDHP to family HDHP, can my wife only contribute to an HSA?

I have had an HSA account that I used to contribute to for my HDHP plan through my employer. This year I am on my wife's HDHP plan through her employer. Does this mean I can no longer contribute ...
2
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1answer
59 views

Moving from Family HDHP/HSA, to individual HDHP/HSA and individual FSA?

A similar question was asked here, but in this case they were looking to move to a family plan. Wife has FSA with employer, and my new employer offers an HSA plan. What to do? My situation is my ...
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2answers
37 views

Contribute IRA money to HSA outside of qualified transfer route?

I live in the US. I will be 59.5 on October 31, 2019. I have a Traditional IRA and an HSA (and coverage under a high deductible health plan, as I believe is required for making HSA contributions). ...
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1answer
107 views

Health Savings Account without Earned Income

I live in the United States. I have read that you can contribute money to a Health Savings Account even if you are no earned income. It that right? The reason I find it a bit hard to understand is ...
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1answer
54 views

Choosing between Tradtional PPO and HDHP with high prescription cost

I have been on some variety of HDHP most years since about 2005. The math has almost always been a no-brainer, particularly at my last place of employment. However, I started with a new employer in ...
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2answers
158 views

How to find HSAs?

I just started a new job with a health plan that includes an employer contribution to an HSA. This is my first time ever having an HSA. Until I started looking, I thought an HSA was something that I ...
5
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2answers
108 views

HSA eligibility when with employer plans

My employer offers two health plans: PPO with optional FSA HDHP (high deductible health plan) with an HSA option. The plans have identical coverage, the difference is in the premiums, deductibles, ...
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1answer
66 views

HSA debit overlaps PreAuthorization

I just checked my HSA account after using my debit card for a bi-annual dental cleaning, and the numbers weren't adding up for my expected balance. The debit card transaction is still pending, but the ...
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0answers
85 views

Are US HSAs taxable in the UK?

I'm working temporarily in the US, but I'm from the UK. I have a Health Savings Account (HSA), which works similarly to a retirement account (penalties for withdrawals before 65, free thereafter; tax-...
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1answer
68 views

HSA contributions made between January 1st 2019 and April 15th 2019

Which year can they be claimed in? Some background: In Feb 2019 I made a deposit of about $2,000 to my HSA so I would max out the $3,450 HSA limit for 2018 (and reduce tax liability). Unfortunately I ...
6
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1answer
151 views

Can my spouse and I both have HSA's at the same time if I am covered on his health insurance plan?

My husband has a HDHP through his employer which I am covered on, along with our 3 children. He has an HSA plan that he contributes to through his employer in the amount of $200 every two weeks or ...
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3answers
133 views

Do I get reimbursed from my HSA for amount applied to the deductible or the actual amount paid?

My health plan (Cigna) through my employer is a HDHP that comes with an HSA (through HSABank). When somebody in my family gets medical services, they "bill" the insurance, which tells the medical ...
2
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1answer
61 views

Medicare Part A and a Health Savings Account (HSA)

I'm over 65, have a part-time job with a high-deductable health plan and a Health Savings Account (HSA). I want to take Social Security, which includes Medicare Part A automatically (retroactive for ...
6
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1answer
128 views

Returning an HSA distribution when there was no “mistake in fact”

I used a medical provider who does not deal with insurance. I had already spent my out-of-pocket maximum, so if this provider had dealt with insurance, they would have been paid entirely by insurance ...
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1answer
37 views

gap in employer provided hsa

I had a qualified HDHP and HSA Jan to thru April. Now another qualified HDHP and HSA July thru December Can I use funds in the second HSA to pay qualified Expenses dated during the first qualified ...
2
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1answer
53 views

One year to next and/or roll overs?

We have had a HSA acct for a number of years. If I got a qualifing procedure done in the year 2018 can I pay in 2019? Is there any rollover amount from one year to another.
6
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3answers
3k views

Minimizing medical costs with HSA

After landing a new job, I opened a health savings account (HSA) in February 2019. I decided to contribute $1 of my pay per pay period to my HSA. However, I can change my contribution amount at any ...
12
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3answers
5k views

Should I prioritize my 401(k) over my student loans?

Lately things have been a bit tight. Between student loan payments, my HSA, my 401(k) and bills my account balance isn't going up or down, its stagnant. I am wondering if I should decrease my savings ...
1
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1answer
74 views

What is the risk of making post-tax HSA contributions w/o deductions, upon withdrawal?

Consider an employee enrolled in an HDHP with an HSA, and an employer that makes pre-tax contributions. In addition, in later years, while still enrolled in an HDHP, the employee makes personal, post-...
7
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1answer
139 views

Can I defer starting Medicare if 65 and on COBRA after a lay-off? (HSA, COBRA, and Medicare)

I turned 65 in February, am still working full-time, and have medical insurance through my company that qualifies me to defer signing up for Medicare. I've been contributing the maximum to my HSA ...
5
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1answer
374 views

pros and cons of HSA in Investment account

I have my HSA that is currently in savings or checking account. The Insurance company provides option to keep the money in Investment account. What are the pros and cons of parking HSA fund in ...
7
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2answers
540 views

HSA - Continue to Invest?

I have an HSA that allows me to invest the money in the account in the stock market. Any money not invested is available to be used for health expenses. I currently have ~50% of the total balance of ...
3
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1answer
108 views

HSA Based Income Tax Optimization Strategy

A hypothetical individual living in the USA held a high deductible healthcare plan (HDHP) in 2017, 2018, and in 2019. She maxed out her HSA contributions in 2017 and 2018 but did not make any ...
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1answer
143 views

Credits, Refunds & Reimbursements made prior to April 15th for Prior Year HSA Qual Disbursements

Apr '19: I've recently worked w/ my HSA trustee/custodian (my CU) to correctly code HSA reimbursements transactions in early 2018 for HSA Qualified Distributions in 2017. Same for 2019/2018. So we ...
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0answers
29 views

Can an ESOP employer match contributions to an HSA?

Can an ESOP employer match contributions to an HSA? How can you optimize your HSA?
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0answers
30 views

Can US expat open an HSA? [duplicate]

I am 60 US citizen, live in Costa Rica, receive a pension, and have a high deductible ($2500) US expat health insurance. I was wondering if I can open and use an HSA to pay my healthcare costs in CR ...
1
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1answer
36 views

Question on part lll of form 8889

I have HDHP for the whole year 2018 and only has non-taxable contribution (code DD on W2). I also have a small qualified distribution on 2018. Do I leave the part lll blank on form 8889.
3
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1answer
875 views

Withdrawals from HSA

I understand that qualified withdrawals from HSA are tax free. If I am right in my understanding, then why are withdrawals deducted from the HSA contribution on form 8889 to determine the tax-...
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1answer
66 views

Can a corporation directly contribute to a personal HSA?

Personal HSA contributions are deductible but you still end up paying FICA (Social Security and Medicare) on the income prior to deduction. Same goes for the corporation that is paying you (they pay ...

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