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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2
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1answer
22 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
101 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
35 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
52 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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0answers
30 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-...
5
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1answer
88 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
357 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
526 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
92 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 ...
1
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1answer
104 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 ...
0
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0answers
24 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?
2
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0answers
27 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
30 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
866 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
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1answer
63 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
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1answer
70 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 ...
1
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1answer
51 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
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1answer
59 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
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0answers
26 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 ...
2
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2answers
87 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 ...
0
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0answers
47 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)?
5
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1answer
62 views

HSA Eligible Expense: Prepayment

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: ...
0
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1answer
76 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, ...
3
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0answers
48 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, ...
5
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2answers
109 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
41 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
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1answer
70 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
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1answer
83 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
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1answer
123 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
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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
281 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
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1answer
54 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
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2answers
57 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
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2answers
1k 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
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1answer
47 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
87 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
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2answers
49 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
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1answer
97 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
87 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
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2answers
94 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
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1answer
56 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
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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
132 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
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1answer
77 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
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0answers
30 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
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1answer
128 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
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1answer
128 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 ...
0
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1answer
71 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 ...