Normally I only contribute enough to my HSA to cover my regular prescription copays for the year, but this month I got hit with an unexpected $4k coinsurance bill from having to have surgery.
I've already paid the bill but if I save the receipt, can I contribute $4k to my HSA next year and then request a retroactive reimbursement to save myself a little bit?
Is there a limit on retroactive claims for a Health Savings Acccount?
byu/Hrekires inpersonalfinance
Posted by Hrekires
6 Comments
Any unreimbursed and undeducted QME after HSA establishment, until you die. No limit.
You can hold that 4K receipt for that bill for *decades* and reimburse yourself *decades* later.
Folks with the means to pay for their healthcare expenses outside of their HSA will do so, so that the HSA can be invested and grow tax-free.
Sure. Even 20+ years from now if you want.
A common HSA strategy is to hold receipts until you really need the money (even if decades from now) to let it grow tax free within the HSA as long as possible.
As long as you are enrolled in a HDHP that is HSA eligible bext year.
Once you have opened and funded an HSA, the IRS deems your HSA to exist continuously as long as you do not go 18 months with no HSA assets.
[https://www.irs.gov/pub/irs-drop/n-08-59.pdf](https://www.irs.gov/pub/irs-drop/n-08-59.pdf) (Q-41)
HSA, yes. FSA, no (a lot of people get these confused.)
You can also contribute more to your HSA this year, if you haven’t already maxed out. If, for some reason, you can’t increase your contributions through payroll, you could open an HSA with a place like Fidelity and contribute there (however, the only way you get the FICA tax avoidance is to contribute through payroll.)