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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votes
1answer
569 views

How is employer HSA excess contribution taxed?

My previous employer made an excess contribution to my HSA account. They are not particularly interested in assisting me, so it looks like I will have to correct this myself if anyhow possible. If I ...
3
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1answer
178 views

Tax year of HSA contributions on W-2

Payroll is done in arrears on the first of the month. HR promised that HSA contributions for the beginning-of-January 2016 payroll would go in for the 2015 tax year. To make things easier, HR sent ...
3
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2answers
134 views

What are some pre-tax programs similar to FSA that I can take advantage of?

I recently found out about Flexible Spending Accounts and was surprised to learn they could be used for Lasik, essentially saving me a good portion of the cost by making that income not be taxed. Are ...
3
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1answer
595 views

Removed Excess Contribution HSA in next calendar year, received 1099-SA in current year

For Tax Year 2012 I had an excess contribution to my HSA. In calendar year 2013, before the filing deadline I removed the excess contribution to avoid the penalty. However, the bank holding my HSA ...
3
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1answer
1k views

How can I withdraw a mistaken HSA contribution?

I had an automatic contribution to my HSA set up, and forgot about it. When the new year came, my health coverage changed, and I'm currently not eligible to contribute to the HSA, but an automatic ...
3
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1answer
48 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 ...
3
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2answers
82 views

Can I Open A Personal HSA with a Bank to Pay Qualified Expenses Incurred When I was Covered by a Company-Sponsored HDHP?

I had a company-sponsored HDHP, which included a company-sponsored HSA. Both I and my employer cotributed. The first contribution to this HSA came two months after I started with the company; it was,...
3
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1answer
663 views

HSA Employer Excess Contribution: W2 vs Other Income?

Form 8889 instructions state that excess employer contributions should be included in income on Form W-2. (Box 1 I assume?) If this is not done, instructions state that excess employer contributions ...
3
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2answers
231 views

Using two health insurance providers?

When I was hired I chose to be included in the company's health insurance policy and to have an HSA opened since my company makes a yearly contribution. However, I am still under 26 and could be ...
3
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1answer
355 views

Filling form 8889 Part I and form 1040 line 25

I started contributing to HSA last year and have some doubt about claiming the tax deduction. My situation is as follows: I enrolled in HDHP plan starting May 20th 2014. I am still enrolled in the ...
3
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1answer
310 views

My employer offers an FSA and HRA but it's not enough. What other options do I have?

My financial situation is unique. I have a son with a degenerative illness that requires on going treatment. This year my employer contributed $1500 to an HRA and I contributed $2000 to an FSA. I ...
3
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0answers
77 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-...
3
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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, ...
3
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0answers
162 views

Living abroad with Mexican insurance and HSA contribution

I am United States Citizen. I lived in Mexico all of 2015, I had a high deductible health plan (HDHP) from a Mexican insurance company all of 2015 as well. My plan meets United States IRS HDHP ...
3
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0answers
254 views

Are there tax implications of refund of overpayment from HSA? [duplicate]

possibly related: How do I correct an HSA distribution when I was refunded by a health provider?, Can I get a rebate after using my HSA? (But I don't really understand the topic and those questions ...
3
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0answers
142 views

How do I gracefully transition from a standard medical plan to an HDHP with a non-calendar plan year and multiple FSAs?

My family is on my wife's insurance and FSA which is on a non-calendar plan year (June to July), with the additional FSA through my employer which is on a standard calendar plan year (January to ...
2
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2answers
518 views

What is the difference between a Health Savings Account (HSA) and a regular savings account through a bank?

What is the difference between a Health Savings Account (HSA) and a regular savings account that I might set up through my bank? I presume that withdrawals from an HSA can only be made for health ...
2
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2answers
290 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 ...
2
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2answers
95 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 ...
2
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3answers
4k views

Can I use a different HSA than PayFlex that came with aetna?

So my insurance aetna came with a PayFlex HSA. I dont think I like the investment options Harbor Bond HABDX Bond Fund Managers Intermediate Duration Government MGIDX Bond Fund Dodge &...
2
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3answers
120 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
249 views

What is HSA contribution limit with 75% HRA compensation?

I have HDHP family plan through my employer with $3000 family deductible. My employer also has HRA that covers all my expenses after 750$ and before $3000 (=75% of 3000 deductible). I claimed only $...
2
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1answer
51 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 ...
2
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2answers
101 views

What is the difference between HSA and HSA Checking account?

Before I always thought HSA is savings account, but recently I saw some banks providing HSA Checking. What is the difference between HSA and HSA Checking account? Are HSA and HSA Checking having ...
2
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2answers
173 views

When can one start making contributions to a Health Savings Account for year 2018?

When can one start making contributions to a Health Savings Account for year 2018 (or more generally, any year)? Is it for example January 1, 2018? I read on https://newdirectionira.com/ira-info/...
2
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2answers
1k views

Choosing between an HSA and PPO

I need to choose between a PPO and HSA plan offered by my employer and it seems like the "obvious" choice is the HSA plan but I fear that I am missing something that will come back to bit me later. ...
2
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3answers
148 views

Health Savings Account Distribution Maximums

I had foregone Dental Insurance this year because all previous years I had spent more paying for the insurance than any procedures cost. Naturally, I had to have a tooth removed and an implant put in ...
2
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1answer
106 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 ...
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.
2
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1answer
65 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) ...
2
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1answer
95 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
55 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 ...
2
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1answer
766 views

Married filing separately: Can I have an FSA while my husband has an HSA?

If my husband and I file our taxes as married but filing separately and I am covered under his HDHP with HSA can I have an FSA through my employer? His employer will contribute $1400 to HSA but our ...
2
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2answers
116 views

Does this Health Plan qualifies as HDHP?

I am planning to open a 'Health Savings Account' account but I am not sure if my plan can be considered as HDHP . I would highly appreciate if someone can kindly have a look at my coverage ...
2
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2answers
3k views

HSA Contributions not listed on W-2

My employer contributes to my HSA each month (this is not taken from my income, it's an additional benefit, part of which health insurance option you choose). The total of these contributions are a ...
2
votes
2answers
555 views

Have you handled a Health Savings Account on your Alabama/California/NJ state tax returns?

I'm looking at https://www.bogleheads.org/wiki/Health_savings_account#State_taxation_of_HSAs where it says "you are required to keep good records, track the state cost basis manually, and report HSA ...
2
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2answers
2k views

When using an HSA debit card for qualified medical expenses, do you typically need to mail your provider proof?

How would Fidelity (who I have my HSA through) know that what I withdrew money for was actually a medical expense? And how does it get reported to count towards my deductible?
2
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1answer
115 views

Maxing out HSA after maxing out Roth IRA

Let's assume a hypothetical individual is a contractor working in the US and paid with 1099. He does not have any other employees and his business is not registered anywhere. He is in his mid ...
2
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1answer
109 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. ...
2
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2answers
145 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 ...
2
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1answer
66 views

HSA distribution for deferred insurance payment

My daughter recently started an orthodontics program that will last 13 months. We've covered the entire program cost up-front already. She is covered on my wife's insurance, and that will pay about ...
2
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1answer
1k views

Should I include my employer's HSA contributions on Line 21 (Other Income)?

Ah, tax season. I have an issue. My medical deductible is $5000 USD a year. My employer contributes $5200 to an HSA account, and it shows up on my W-2 box 12. The main question is, does this ...
2
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1answer
479 views

I forgot to submit my HSA tax forms last year can I add it this year?

My 2015 HSA paperwork didn't make it to me until after the tax deadline. My employer switched HSA providers so I have everything on time this year. Can I add the HSA from last year? Should I assume ...
2
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1answer
133 views

Should I withdraw from a HSA with no investment options?

I opened an HSA account with my bank and funded it for 3 years. It gets about 1% interest/year and there are no options to invest the money in funds/stocks/etc. I no longer have a HDHP, so I cannot ...
2
votes
1answer
148 views

Will an HSA save me money on chiropractic or dental?

I live in NJ and have a full time Job. I am mid 35's and my friend is on mid 45's. We both have our Health Insurance. However, it doesn't support Chiropractors or Dental. Will having an HSA Account ...
2
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1answer
125 views

Is my wife eligible for an HSA?

I had an HSA with a previous job but I no longer work there and am no longer contributing to it. I still have the account and there is still money in it. My wife recently got a new job as well and ...
2
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1answer
2k views

Flex spending accounts and hsa when changing jobs

I have 2 issues related to a job change and my FSA with my previous employer I gave a two week notice on 2/23/2015. The employer chose not to keep me in the office for those 2 weeks, but would pay ...
2
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1answer
2k views

Health Savings Account Insurance Reimbursement

I have an HSA for my HDHP to which I contribute the maximum IRS allowed pre-tax amount every year to save up for future medical expenses. Last year (2014), I had my wisdom teeth removed, and the cost ...
2
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1answer
175 views

HSA contribution and self HDHP

I enrolled in HDHP plan starting 2014 Nov 3rd. I also have an employer sponsored HSA plan, where my employer contributed $250 towards the 2014 limit in Jan 2015. Before this I never had an HSA account....
2
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1answer
152 views

Is there a problem with buying small amounts of a no-fee mutual fund every two weeks?

I am treating my HSA as a retirement account. To max it out I contribute about $100 every pay period (roughly every two weeks) pre-tax, plus employer contributions sprinkled in occasionally. Once I ...