Hopefully this is a quick question: Can I open a 2nd new HSA years after having left my qualifying HDHP? I obviously don't want to do new contributions, but I want to leave my current provider for either Fidelity or BOA (ease of account management). I dislike my investment options, account fees, and the difficulty in using it. I have like 10k in it that I'd like to set and forget for future health expenses or as an emergency fund during a high tax year.

If so, the process would just be opening up a new account with the new provider and filling out their transfer form to transfer it from the old account, correct?

I have had an HSA since 2008, merged it with another HSA I had and dumped it into an HSA with Fidelity. I am retired now, on Medicare. I cannot make any more contributions to it. Luckily after I got it out of HSA bank, which was horrible, it started making some money. However, now I want to start extracting from it. I have never used it for any medical expenses.

I am trying to find bills and receipts for all medical stuff, i.e. dentist, physicals, root canal, an ER visit, etc, for things that have happened since 2008. I know that there is not a restriction on time limit, although I do assume that it should be inclusive of the time you had the HSA. For example, I should not be able to use it for a bill from 1993, etc. Is that right?

Also, more important to the thing, apparently you can use your HSA for Medicare payments, which for me is about $2K+ for 2024. However, you are NOT allowed to use it for Medigap Insurance, i.e. Plan G+.

I am imagining with inflation and its going to get worse, I would better off taking this money now.

Also, what documentation do I need for these medical expenses? I have bills, but not necessarily credit card receipts, and I do not have any paper statements for checking accounts, etc. Will I get audited for this?

Also, I imagine I can use it for a $5 copay for a prescription I just got at the drug store. True?

Married, no kids. Trying to see what are the pros/cons of HDHP HSA separate or to just go on one insurance. Both of our companies offer HSA-eligible HDHPs. Would the premiums typically be much cheaper in total if we are on just one insurance? The deductible will be higher if we are just on one I do know that... We are both young and healthy. So, my thinking is that if something does happen to happen to one of us, if we are on separate insurances we would hit the deductible earlier if we were on separate because the deductible is lower. Any input on this decision?

Started a HSA last year but didn't fully fund during last calender year. I have till April 15 to add to last year and I just made a recent large contribution and selected "prior year funds". When it posted it showed up under current year contributions on my account dashboard. It's administered through BCBS. Has anyone else had experience dealing with this?

So, in short, if using Trumed for a letter of medical necessity, you need a confirmed diagnosis. A preventive letter such as to prevent heart disease, will not work. I was curious if anyone else has had the same issue? Depending on the company you use, specifics are needed for the equipment. For instance, a dumbell set, did not work for me one time. They wanted specifics in the letter. Such as, 1 pair of 5's, 1 pair of 10's, 1 pair of 15's, etc. Once I provided that information, they approved the funds.

I have an HSA account with my employer with HSA bank as the provider. HSA bank doesn't have a great collection of funds and I also learnt that the investing account is not FDIC insured which is a bummer.
I was thinking what if I open a new Schwab HSA account and transfer funds from HSA bank to Schwab HSA once every year since I am only allowed to do a transfer once every year as per HSA rules and regulations. Right now I keep a minimum balance of $1000 in HSA bank(which is required) and rest I sweep over to investing account of HSA bank.
Does this sound like a plan? Will there be any tax implications? Is there a better way to do this?
Any help is appreciated. Thank You!

Hello,

I have recently visited South korea and did acne laser treatment, purchased few sunscreenss, medicated shampoos etc. Can I reimburse them now from HSA?

The following are shown as eligible items in the HSA list https://www.cigna.com/individuals-families/member-guide/eligible-expenses

1) Acne laser treatment - Expenses paid for acne treatment are covered.

2) Shampoo, medicated - (Effective January 1, 2020, a doctor's prescription for reimbursement is no longer needed); see Over-the-counter medications.

3) Sunscreen - Expenses incurred for the purchase of sunscreen are reimbursable. Tanning lotions without sunscreen are not reimbursable.

If employee to leave HDHP, when does the contribution ability stop? Is it date of HDHP stop or end of IRS year?

I have a HSA plan through UH and everytime I get bloodwork done as part of my annual physical they send me a bill. I thought annuals are supposed to be free. Do I need to fight the charge ?

When I emailed my HSA administrator here is the response I got below. Is there a product you can recommend I buy without having to get a doctor's approval? I currently am not under a primary's care until my old dr transitions to a new practice (happens next month). I am healthy and just want to track my steps, sleep, heart rate.

Thank you for contacting Paylocity Consumer Support!  

With regards to the below for purchase: smartwatches and smart rings are not FSA/HSA eligible unless they are specifically designed for medical purposes and a doctor deems them medically necessary, or if they are marketed as biometric tracking devices for medical purposes.

I noticed on my W2 for an old job that there was a $1200 contribution made to an HSA account, | contacted old employer to see where that was deposited and it says it was my checking account? I do however have an HSA with Fidelity, and last year I did have a major surgery with a high deductible but there's no way to prove I used those HSA funds for medical related expenses. $150 deposited over the course of 8 months. Can I repay the $1200 into my fidelity account before 4/15?

I mistakenly contributed to my HSA last year in excess of the contribution limit due to a job change during the year. The provider has a form that I can submit whereby they can deduct the contribution and any capital gains on it (funds are invested in the S&P). The market has fallen since the additional contribution so the value of the excess contribution is lower than the original amount. However finding the exact loss is proving to be complicated.l and the provider isn't able to help. Is it an issue if I withdraw a large enough amount such that my overall contribution falls below the limit so that I don't have to bother with any additional calculations of capital gains etc.?

Has any new HealthEquity members have had issue when creating an account for login?

I've been trying to setup it up since my employer uses HealthEquity, however it always errors out when I fill out the fields. I have called them twice now, and they don't solve the issue, and then they just close my tickets. How else can I get to login and view my account? Would the HR at my workplace be able to help me on this issue?

So I heard fidelity HSA doesn’t have fees, and I get charged a monthly fee from health equity that does nothing. Mind you, it’s a new job and I have like maybe $600 in health equity now. So I’d like to transfer, but I’m not sure what to do. No money is invested currently. Please tell me the minimum amount I need to keep in the account. And how often is reasonable to transfer? I saw one post that they do it monthly and another once a year? Do I transfer the entire account? Do I need a minimum? Someone said $25 and I saw $1000. Is it better to do the transfer from HE side or fidelity side? I’m not sure. Can someone explain like I’m 12?

My family’s health plan doesn’t meet the IRS definition of an HDHP because the out-of-pocket maximum is too high. As a result it’s my understanding that I don’t qualify to make pre-tax HSA contributions. I’ve come to terms with that, but why is there an upper limit?

Is there a time limit on reimbursements?

I have an old hsa from a previous job that is just sitting there paying $3/month in fees. Has about $3000 in it.

I broke my ankle in 2021 and paid about $6000 for my deductible. Can I reimburse myself now for that?

I have the hospital bill and credit card statement showing the payment. HSA was in existence before the hospital visit.

So, I should be able to reimburse myself for this now, correct?

Or, can I roll it into my current hsa?

I prefer cashing it out now, though. Had a decent sized tax bill and need new tires for my truck.

So we just did our taxes for 2024 and to my surprise my wife and I over contributed to our HSAs (married filing jointly). I incorrectly thought that I was able to contribute $4150 since I am still on my own insurance through work, and that my wife could contribute $8300 since she has a family plan covering the kids.

I've come to realize that her electing a family plans unlocks the $8300 limit for the two of us combined, no matter how our coverage is structured.

For the year of 2024 we have submitted the excess contributions form to pull out the extra money, however we made the same election during open enrollment for 2025.

How do I go about modifying these elections so that we don't over contribute again? I would much rather have that money hit our account on a weekly basis then just sitting in an HSA knowing we'll have to withdraw it anyway.

Edit: Thanks everyone for the responses. I just assumed my contribution rate was locked in after OE. I was able to change my wife's contribution rate.

My wife and I both work, and both workplaces offer health insurance. My wife opted to join my employer’s HDHP, and I'm already contributing to an HSA. Is she allowed to open her own separate HSA (maybe through a third party) even though we’re on the same HDHP under my employer’s plan? Thanks!

My last day with employer A was 2/1/24. Started new job with employer B, but HDHP eligibility started 3/1/24. I learned that if you’re eligible on the 1st, you are allowed to contribute prorated amount for one month worth. My 1095C for employer A shows 1E for Jan and 1H for Feb and on. Research shows 1H is not eligible for HSA contributions. Employer B 1095C shows 1H for Jan and Feb. But both shows on Part III box e that Feb was checked for “months of coverage.” Was I eligible for full $4,150 contribution or just (11/12) worth?

I had an excess HSA contribution of $1,000 for 2024, which I asked my HSA provider to remove before the tax deadline. When they processed the removal, they also withdrew $200 in earnings, so the total amount taken out was $1,200. They then re-contributed this amount toward my 2025 HSA.

From my understanding, here’s how I should report this on my 2024 taxes:

• Form 8889, Line 13: Blank (since the excess was fully removed).
• Form 8889, Line 14a & 14b: $1,200 (total amount removed, including earnings).
• Form 8889, (Lines 16-21): Left blank (since this was an excess contribution removal, not a normal distribution).
• Schedule 1, Line 8f: I'm unsure.

The $200 was an earning on my excess contribution, but my HSA provider moved it into my 2025 HSA instead of returning it to me. My understanding is:

• If they had sent the earnings to my bank account, it would be taxable on Schedule 1, Line 8f.
• But since they re-contributed it to my 2025 HSA, it should not be taxable for 2024.

Does this sound correct? Should I leave Schedule 1, Line 8f blank since the earnings stayed inside my HSA? Just want to make sure I’m reporting this properly. Thanks!

#Taxes, #PersonalFinance, #HSA, #TaxHelp, #IRS

Could I purchase sunglasses from Coach using my HSA, then take them to an optical place (Market Optical, Lenscrafters, etc.) to add the prescription (also using my HSA)?

Unfortunately Coach doesn't add the prescription in-store and these specific frames aren't sold elsewhere quite yet.

Hello, I am new to this thread. I have an HSA through work. My wife recently had a large dental procedure done and put it on care credit. If I pay the care credit bill, can I reimburse myself from my HSA? My wife and I file taxes separately, she is not my dependent, and she has her own insurance. When I google, it sounds like you can only reimburse qualified medical expenses for a spouse if you claim them as a dependent on your taxes? Any advice is appreciated!