Cash out HSA Question Hello, I am currently in a situation where it does not make sense for me to continue with my employers health package and will be switching to what my wifes company offers. I have few thousands in my HSA and want to cash out. What is the best option? I know I will be paying a fine, but does that get applied when i cash out or when i file my tax…

Leave HSA with HSABank or Transfer to Fidelity? I have about $13.6K invested with HSA Bank from my previous employer when I used to have an HSA plan. I’ve since left that company 4 years ago and got married. Due to my wife’s medical needs, we calculated that lower deductible health plans are in our best interest and do not foresee enrolling in a high-deductible medical plan that allows HSA ag…

Anyone had a similar HSA scenario? HDHP + HSA question My wife received a job offer at a university and she is offered the same exact Blue Cross Blue Shield Medical Benefits that we currently have through my employer; however, the annual cost for her and I through her employer would only be $791 (annually) as opposed to mine is $3,588 (annually). It’s literally 1/5 of the cost. Option 1: $791 annua…

Spent money from HSA but some of it is getting reimbursed We were spending money out of our HSA to cover mental health services. However, we found out we can submit a claim to our insurance and get reimbursed. How do I get the HSA back in a good state since we’re getting reimbursed? In other words I’m currently getting more benefits than I should. submitted by /u/notgregoden

What happens to HSA when we take Medicare? So if there are funds remaining in the HSA when we we take Medicare how do we ensure they roll over to the IRA or can we roll it to a brokerage account? Is it possible to cash out without a tax hut? I’ll be turning 60 in December (my wife is 60) and thank God, we are in good health. submitted by /u/SDVD-SouthCentralPA

Employer mishandling of my HSA… My employer switched over to a different HSA servicer and completely mishandled the money during this process. I have checked pay stubs and have a total of ~$2600(my contribution + employer contribution) year to date that should be in my account. There is currently only ~$1600 YTD. I’ve asked HR though the year about what is happening with no sp…

Company told me HSA account doesn’t roll over. Is this true? We are in open enrollment. I inquired about an HSA account and was told it doesn’t rollover to the following year if the money goes unused. I have read and see multiple videos that state the money does rollover. Is this true? submitted by /u/SuccessTimely5730

How to invest HSA if I hit OOPM every year? I’m interested in starting to invest our HSA in order to help it grow faster. Unfortunately, due to ongoing health problems (requiring very expensive medicine), I have been and expect to continue hitting my out of pocket maximum every single year. My wife also has some spending throughout the year, but nothing crazy. My question is, what’s a sma…

would it be a good idea to stop HSA contributions? Quick background: single dad, two kids, maxing out my HSA contribution for the past several years. Current balance is $33.5k with all but $100 invested. We’ve been fortunate enough to not had a single medical expense that couldn’t be covered out of pocket, so the HSA has been completely untouched the entire time. The intent was always for me let…

Can I put a lump sum into a HSA and instantly reimburse myself to get a ‘discount’? Hi, I recently paid around $3k in dental costs out of pocket. I have a HSA that I do not use and has $0 in it. Is it possible for me to put $3k into the HSA from my checking account, then reimburse straight away for the dental expenses? I believe I would then get around 25-30% of that 3k back during tax season next year. Is this possible? are th…

Best approach for non-Maxed HSA I started a company with a HDHP and an accompanying HSA. It’s through Fidelity, so I’m aware that I can invest extra HSA funds. I am not in the financial position to max my HSA. I have seen dozens of YouTube videos on HSA. All take the extreme of either not contributing to maximize HSA and pay out of pocket. I’m trying to fight my way to the mid…

Money Market vs. HSA guide? I have a bunch of money rotting away in a conventional savings account. I want to move it into a HYSA or Money Market. I don’t need to access the cash soon, write checks from it or whatever. I’m looking at a UFB Direct HYSA at 5.25%. Their money market is also at 5.25%, $10 monthly fee if the balance is under 5k. I have 5k to put in, so that’s a…

Understanding HSA and tax advantage I have an HSA account with about $8000 in it, I’ve maxed it out a couple years and plan to continue to do so. My deductible is $5000. My wife and kids are on her insurance without an HSA. I don’t remember what their deductibles are off hand. I think I’m at a point where I want to invest additional money I’m putting in keeping only $5000 in my H…

Reimburse same Vision Purchase with insurance, LPFSA, and HSA? If I bought $500 contacts, and my max annual vision insurance claim is $100, can I reimburse the remaining $400 with LPFSA ($90) and HSA ($310)? I only have $90 left in LPFSA, and I’d like to zero out my LPFSA before dipping into my HSA. Would this be considered double-dipping, since it’s all on the same purchase? submitted by /u/bidthea…

I should quit spending HSA money, shouldn’t I? I’ve been maxing out my HSA for a few years now, but the balance doesn’t grow dramatically because I’ve got a family and we spend our healthcare money. Like this year, I just did the math and I’ve contributed $4700, spent $3500. I have my 3-6 month emergency savings account and we generally stay on budget so that account does go up. But I think …

Which healthcare plan to pick and what to do with old HSA? At my old job I was on a high deductible health plan (HDHP). My old employer offered a $1500 HSA bonus which I received already this year. I have contributed $1370.81 additionally which puts me at a total of $2870.81 contributed to my HSA through July. My understanding is the total (employer + employee) amount to contribute to an HSA account is …

What to do with ex-employer HSA? Had a HSA setup with my previous employer through Bank of America. My time making contributions to it was short-lived; ~6 months before I was no longer with the company. The balance was just shy of the $1k minimum needed to actually start investing any contributions. I think it was literally around $980. I don’t believe my current employer healt…

Is it worth it to get health insurance just for the HSA plan? Hi ya’ll. I am choosing my benefits from starting a new job. One conundrum i’m having is in deciding whether to get a health plan just for the HSA. a few jobs back I was the main earner and benefits for the family. I got a plan with an HSA and was able to grow it to about 10K. shortly after my spouse got a job with better benefits and I went int…

Reimbursing myself for HSA eligible item I used coupons for On my receipt, it says… Zyrtec allergy $36.39 Mfg coupon: $10 Subtotal: $26.39 Sales tax: $2.19 Total: $28.58 Total FSA items: $38.58 What is the actual amount I claim for HSA reimbursement?? submitted by /u/snappycollander

Can I withdraw from HSA and then deposit back into HSA without getting penalized. I have 8000 in my HSA currently. Am I able to withdraw 8000 for non qualified medical purpose for a month to pay some urgent bills and then in 1 month deposit 8000 back into my HSA. Does that avoid getting penalized? Also, would that count for over my contribution limit since it’s putting back 8000 back into the HSA account or does it not count …