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
137 views

HSA: Is the employer responsible for reviewing medical expenses? Are employer-made HSA contributions deductible health care expenses?

Two questions. Is the employer responsible for reviewing medical expenses? Are employer-made HSA contributions deductible health care expenses?
4
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1answer
60 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
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1answer
82 views

HSA Distribution for expenses between HSA plans

I have the following scenario. I am reading through the IRS publication on HSA's. Have an HSA that was funded while I had an eligible plan and let's say it has $1000 dollars in it Change to a non ...
4
votes
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 ...
4
votes
1answer
189 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 ...
4
votes
1answer
144 views

What can I do with a HSA after I leave a HDHP

I have a HSA which I opened with a previous employer who offered a HDHP. My new employer does not have a HDHP plan. Because I'm no longer an employee with my previous employer, my HSA custodian (...
4
votes
1answer
178 views

Should I pick a company paid premium or company paid deductible health insurance plan?

I am switching companies in a month. Here is my current health insurance and here are my two options for when I switch (Note that I have a wife and infant child): Current: Shared premiums at $310 ...
4
votes
2answers
295 views

How Taxes Work with HSA Bank Fees

I have an HSA account from my previous employer. I have depleted the majority of the funds except for $200 to help cash flow the birth of my child. Now that the account is only $200, the bank has ...
4
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1answer
18k views

Can I pay past expenses using an FSA opened midyear?

In my old job I had a HDHP and HSA. Midyear, I started a new job and switched to a standard insurance plan and an FSA. Can I submit receipts for expenses from January to the FSA that I just opened in ...
4
votes
1answer
426 views

Allocation of HSA assets

I have a health savings account (HSA) linked to my high-deductible health plan (HDHP). I have been contributing to it for several years at the annual maximum. I have the HSA through UMB. The account ...
4
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1answer
3k views

Can a health care provider make a refund of an HSA payment by check?

We have a patient that is demanding a check from us (the provider) as refund instead of us refunding her HSA Debit Card. Can we do that?
4
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1answer
76 views

Should I include pre-tax deductions when filling out my W-4?

I have pre-tax IRA and HSA deductions taken from my paycheck. When filling out line 4 of the Deductions and Adjustments Worksheet on form W-4 should I include these amounts, or are pre-tax deductions ...
4
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1answer
664 views

Spent $99 towards an “eyecare” club. Was it an HSA eligible expense?

I spent $99 at America's Best for their "eyecare club" several months ago. Through the program, one gets unlimited eye exams for the next 3 years and discounts on glasses/lenses. I figured this would'...
4
votes
2answers
133 views

Can I contribute to Health Savings Account mid year, outside of when I enrolled?

I failed to contribute to my HSA account when my company asked to enrolled for it. Is it still possible for me to contribute to it and also get the tax deduction ? If yes, I should be able to specify ...
4
votes
1answer
103 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 ...
4
votes
1answer
382 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 ...
4
votes
1answer
950 views

Paid with HSA received cash back [duplicate]

Yesterday I bought a heating pad at Walgreens and used my HSA debit card. It was a HSA Over-the-counter Eligible Expense. However, after the purchase I realized it wasn't what I actually needed. So I ...
4
votes
1answer
256 views

US - paying medical insurance premiums from HSA? (while on disability leave)

My wife has been carrying our health insurance for about two years. She is on disability leave for the foreseeable future. Her employer continues to pay the employer portion of the medical/dental/...
4
votes
1answer
180 views

Excess HSA Contributions Used For Medical Expenses

I have a potential employer with a strange solution for healthcare. They wish for you to select a HDHP from the marketplace with an HSA then they fund the HSA to pay for the healthcare premiums. I ...
4
votes
1answer
5k views

What is the penalty for having an HSA and Medicare?

If I open a HSA my employer will contribute $1000 yearly, but I am not supposed to contribute to an HSA because I have Medicare Part A. What is the penalty for contributing to an HSA when you have ...
4
votes
1answer
894 views

Initial investment limit for an HSA? An IRA?

A fairly simple question but I had troubles finding the answer. (Apologies if the answer is well-known.) HSAs have a yearly contribution limit, as do IRAs. However, is there a maximum limit for the ...
4
votes
1answer
130 views

Deduct payments towards HSA alongside unreimbursed medical expenses on taxes?

I have medical expenses paid out of pocket and payments (pre-tax) to my health savings account. Can I consider both of those totals when computing my eligible medical expenses total for that deduction?...
4
votes
1answer
53 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 (...
4
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1answer
386 views

HSA and FSA Concurrently

Our family's health insurance is through my wife's job and it is a high deductible plan. She opened and started contributing to an HSA in 2014. I started contributing to an FSA through my job in 2015 ...
4
votes
2answers
359 views

How to record HSA-reimbursable medical transaction into gnucash?

I'm using gnucash to record my finances (but it should apply to any double entry accounting system). I wonder how should I record transactions for medical expenses which I can reimburse from HSA (and ...
4
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2answers
4k views

How to fill Form 8889 (HSA) Part III?

I have a hard time understanding Part 3 of Form 8889 (HSAs). The situation is as follows - I have an HSA for a few years. This was opened about 3 years ago, while I was working for my previous ...
4
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1answer
224 views

Should I treat HSA as taxable or non-taxable in deciding on bonds if my state does tax it?

If my home state of California taxes the gains in HSA, should I use tax-efficient investments (for example Muni bonds), or should I assume that the market arbitrage on the taxable accounts so using ...
3
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3answers
4k views

Why do employer contributions count against HSA limits? [closed]

401k and 403b plans have annual employee contribution limits. Employer contributions do not count against that limit (but do count against a higher separate limit). Is there a reason HSA limits ...
3
votes
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-...
3
votes
2answers
6k views

Allowed to make a post-tax HSA contribution if pre-tax contributions are available through employer?

I have a HSA, and my employer allows pre-tax HSA contributions. I'm working on my 2015 taxes and it turns out it would be beneficial to make a contribution now for 2015 (which I believe is possible?) ...
3
votes
4answers
468 views

Why it is recommended to have High Deductible Health Insurance and to have HSA - Max out the pocket?

Why it is recommended to have High Deductible Health Insurance and to have HSA - Max out the pocket? I am not able to understand the benefit of having High Deductible Health Insurance and HSA.
3
votes
2answers
110 views

HSA - do I have to contribute to my account?

I am on my employer provided HDHP with an HSA and have been for 4 years. I have only contributed to my HSA account for a few months last year. I never go to doctors. Our new H/R person is now ...
3
votes
2answers
279 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 ...
3
votes
1answer
460 views

Should I get a corrected 1099-SA after paying back my HSA?

My doctor overcharged me in 2017, and refunded me the overcharge in 2018. I've sent the mistaken distribution back to my HSA provider with the necessary form, but they tell me that a corrected 1099-SA ...
3
votes
1answer
901 views

Self-managed IRA account brokerage as an HSA?

Most specific than this question, I'm desperately seeking a TD Ameritrade or E-Trade type online brokerage that offers self managed HSAs to accompany an HDHP. I cannot find one. Is there another key ...
3
votes
1answer
96 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 ...
3
votes
2answers
145 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 ...
3
votes
1answer
144 views

HSA distribution and medical expense deduction in the same year

I have had an HSA for 10 years and have been making regular contributions. I have not taken any distributions yet. Most years I did not deduct medical expenses on Schedule A, so I have a pile of ...
3
votes
2answers
78 views

Can I enroll in FSA after losing coverage due to my father losing his job?

I am being allowed by my employer to enroll in a Health Insurance plan outside of the open enrollment period or new hire period due to an Involuntary Loss of Coverage (my father lost his job and I was ...
3
votes
1answer
83 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 ...
3
votes
2answers
2k views

Can I keep my HSA if I get on husband's insurance?

My husband and I recently got married and are wondering what to do about health insurance. I am currently with a company that offers a plan with the option to put funds in an HSA or FSA. My husband'...
3
votes
1answer
118 views

Transfer money to HSA and then withdraw after paying for expense

I have a HSA opened in June with a $1k opening balance. Sometime in August, I had a medical bill totaling $3k and I absent-mindedly paid for it out of my regular checking account. Assuming I have ...
3
votes
1answer
116 views

Is my HSA contribution “individual” or “family” if I had a qualifying event mid year?

I started 2014 with a "family" HDHP. At the end of February my spouse started a job with her own coverage (not HDHP) and we added our child to her new "individual + child" plan and converted my ...
3
votes
1answer
134 views

Max up HSA contribution for 2013

I and my employer made less than $3250 contribution to my HSA in 2013. I heard that I could still make contribution for 2013 before 4/15/2014. If this is true, and I deposit my personal money to HSA ...
3
votes
1answer
105 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 ...
3
votes
1answer
79 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. ...
3
votes
1answer
497 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....
3
votes
2answers
191 views

Health Savings Account

I have been with the same employer since 2005. In 2012, I opened an HSA. I used all of the funds by the end of 2013. In 2013, I didn't go with the HSA plan, I switched back to the plan using a Flex ...
3
votes
1answer
364 views

HSA excess contribution in 2015 moved to 2016 contribution, W-2 shows total amount including excess

TL;DR: my W-2 indicates that my HSA contribution for 2015 is $4137. I had my bank move the 2015 excess contribution ($787) to 2016's contributions. Is it OK to change the value reported on my taxes (W-...
3
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1answer
744 views

Can return fees be reimbursed from an HSA?

Suppose I buy some prescription eyeglasses from an online site. Then suppose after I get them I decide I don't like them, and I return them. In such a case, the seller may charge me some fee (e.g., ...