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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4
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1answer
76 views

I am 66 and am not yet enrolled in Social Security or Medicare Part A or B. I am currently employed and have a HSA

I am 66 and am not yet enrolled in Social Security or Medicare Part A or B. I am currently employed and have a HSA with semi-monthly contributions taken out of my paycheck. It is currently October ...
3
votes
2answers
79 views

How does the IRS expect HSA “receipts for medical expenses” to look in praxis?

When you reimburse yourself for medical expenses, you are required to keep 'records', to prove that the expenses were falling in the allowed medical cost classes. In case of an audit, you need to be ...
4
votes
3answers
109 views

Why does federal law only allow HSA contributions if you have a HDHP?

According to the IRS, you are only allowed to contribute to a Health Savings Account if your current health insurance is a high-deductible plan. Currently, the minimum requirement for the deductible ...
7
votes
1answer
145 views

After a Divorce, may I use my HSA to Pay Spouse's Medical Bill that Occurred Prior to Divorce

I am recently divorced (in Iowa). My spouse got a large bill in the mail covered by insurance for an emergency room visit. She still owes money even after insurance paid a portion of the bill. I'm not ...
2
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1answer
68 views

HSA Contributions without relation to employment

Can I make contributions to my HSA account that I have from an old employer? I still use the account to buy/pay medical stuff. I would like to have a little more money in there when I'm investing with ...
1
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0answers
21 views

Deadline for withdrawing excess HSA contributions

Due to changing jobs, I've exceeded by HSA contribution for 2018 by several thousands of dollars. I went to a tax preparer and we've filed form 5329 for tax year 2018 to pay 6% tax on that excess. ...
0
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0answers
14 views

Can I open an HSA if on parents health plan but not a tax dependent?

I plan to remain on my parent's health plan until I am 26. The plan is a HDHP and therefore they are able to contribute to an HSA. I know that while I was still a tax dependent I was unable to open my ...
1
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1answer
32 views

HSA/FSA eligibility and Last Month Rule

Spouse has had an HSA eligible plan but because I had an non-limited FSA throught my employer we had not been able to contribute to the HSA. Last year we decided to get rid of the FSA, the FSA ...
0
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0answers
67 views

Forgot to file form 8889 with HSA self contribution of only $0.01, what's the consequences if I don't file amended return?

I filed a 1040NR-EZ tax return in 2018. later on I realized that I had an HSA opened in 2017 which requires Form 8889 and the non-simplified 1040NR to be filed. my own HSA contribution was $0.01. I ...
7
votes
2answers
354 views

How to determine how much to keep in a health savings account

We are a family of healthy people (30s/40s, kids in elementary/middle school). I've got an automatic contribution for my health savings account. The balance grows and grows. We've barely had a chance ...
2
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1answer
95 views

How do I know whether to classify HSA income as dividend or interest?

I live in California, where the interest and dividends earned in an HSA are taxable. They need to be reported on the Schedule CA (540) on line 2 (taxable interest) and line 3 (ordinary dividends). I ...
4
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2answers
131 views

Will changing HSA custodians result in losing investment value?

My HSA custodian was acquired by another custodian, and they're planning to liquidate my investments at the old custodian, and then transferring that into a money market at the new custodian. At that ...
3
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2answers
885 views

Opening an FSA with dormant HSA

A long time ago, I opened an HSA account. Now my employer is offering me an FSA account. So long as I don't contribute to the HSA account, can I keep it for later and only contribute to the FSA ...
2
votes
1answer
80 views

If my HSA contributions are already deducted on W2, should I still deduct it from Schedule 1, Line 12?

All of my HSA contributions were made through salary reductions last year, so they already show up on my W2 as such. Thus, if I claim HSA contributions on Line 12 of Schedule 1, it seems like I am ...
1
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2answers
91 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 ...
0
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2answers
85 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
1
vote
1answer
117 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 ...
2
votes
1answer
272 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 ...
2
votes
0answers
136 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, ...
3
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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?
4
votes
2answers
229 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
195 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 $...
-2
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1answer
100 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
votes
1answer
118 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 ...
0
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1answer
119 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
62 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 ...
3
votes
2answers
288 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 ...
0
votes
1answer
64 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. ...
7
votes
3answers
591 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 ...
4
votes
2answers
118 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
votes
1answer
114 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 ...
0
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1answer
36 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, ...
1
vote
1answer
78 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 ...
7
votes
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
votes
1answer
109 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 ...
4
votes
2answers
63 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
votes
1answer
73 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 ...
1
vote
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). ...
4
votes
1answer
110 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 ...
3
votes
1answer
63 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 ...
1
vote
2answers
159 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
votes
2answers
118 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, ...
1
vote
1answer
106 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 ...
3
votes
0answers
117 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-...
1
vote
1answer
75 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
votes
1answer
156 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 ...
2
votes
3answers
142 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
votes
1answer
77 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
votes
1answer
143 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 ...
1
vote
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 ...

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