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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.

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1
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1answer
39 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
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2answers
35 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
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1answer
100 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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2answers
147 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 ...
3
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1answer
41 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 ...
5
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2answers
97 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
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1answer
127 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 ...
1
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1answer
55 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-...
1
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1answer
37 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 ...
5
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1answer
92 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 ...
3
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0answers
73 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-...
2
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1answer
78 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 ...
1
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1answer
60 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 ...
2
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1answer
48 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 ...
2
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3answers
114 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 ...
5
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2answers
117 views

HSA Eligible Expense: Prepayment [duplicate]

I started a HDHP medical plan and HSA account on 1/1/2019. We then had our first child on 1/8/2019. The OB/GYN office took a prepayment for the delivery services before 1/1/2019. So the question is: ...
6
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1answer
116 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
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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 ...
6
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1answer
102 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 ...
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 ...
4
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2answers
848 views

HSA distributions and tracking receipts

During a presentation regarding HSAs I was informed the IRS can audit one for an indefinite period of time. The presenter suggested we keep records of our claims for 10+ years in paper form. This ...
5
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1answer
368 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
votes
2answers
532 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
103 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 ...
0
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0answers
26 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?
1
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1answer
54 views

Medical expenses incurred during HSA and later filing

I have past medical expenses that I could not pay with HSA money since I ran out of HSA funds. That is, I maxed out what I could contribute for the year and used it for other medical expenses. I ...
2
votes
0answers
29 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
33 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
873 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-...
1
vote
1answer
65 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 ...
3
votes
1answer
78 views

Reimbursing myself for health related expenses years after they occur w/HSA?

I have an HSA which I primarily use as an investment vehicle, I have not taken any money out for eligible expenses but continue to contribute and invest those funds. I have read that I can essentially ...
2
votes
1answer
63 views

Could my FSA from my previous job disqualify me from doing an HSA with my new one?

I had my previous job 2015 through August 2018. Near the start of the job, I remember contributing something like $200 to an FSA. I regretted my decision (since I hate dealing with FSA complications) ...
0
votes
0answers
35 views

What are the upsides and downsides of doing an HSA rollover contribution vs. an HSA trustee-to-trustee transfer in the United States?

In the United States, what are the upsides and downsides of doing an HSA rollover contribution vs. an HSA trustee-to-trustee transfer? I am aware that: one cannot do more than one HSA Rollover ...
3
votes
2answers
106 views

What should a medical receipt contain to be IRS-approved for an HSA withdrawal in the United States?

In the United States, one must keep records of all one's medical expenses processed through one's HSA in case of an IRA audit. What should a medical receipt contain to be IRS-approved? I'm assuming it ...
5
votes
2answers
117 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?
0
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0answers
51 views

How to report HSA capital loss on California tax returns, Schedule CA 540 form?

How do we report Capital losses on HSA for California State taxes form schedule 540? Do we need to attach Schedule D (of CA)?
0
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1answer
81 views

Alternatives to VFIAX

I've had some of my HSA invested in VFIAX, an s&p 500 passive fund and also fourth largest fund in the US. My new HSA provider does not offer the fund. On offer are: VSIAX (Small value), VIGIX, ...
5
votes
1answer
2k views

Should my state wages be different than my federal wages due to HSA?

In 2015, I earned all of my income in Alabama, and I contributed $3,350 to an HSA. I filed my taxes through a free online tax filing service. Later on, I made an effort to learn about income tax law ...
3
votes
0answers
58 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, ...
2
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1answer
42 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
101 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. ...
4
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4answers
6k views

Options for HSA with no high deductible plan

I had an employer that offered a high deductible plan with an HSA. I have since moved employers and my new employer does not offer a high deductible plan. At first, I thought I would just keep my ...
6
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1answer
87 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
146 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
votes
2answers
285 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
57 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
61 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 ...