[Show all top banners]

k_ho_k_life
Replies to this thread:

More by k_ho_k_life
What people are reading
Subscribers
:: Subscribe
Back to: Kurakani General Refresh page to view new replies
 HSA paid and refund partially electronically
[VIEWED 2364 TIMES]
SAVE! for ease of future access.
Posted on 03-19-21 3:22 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Has anyone got experience using Health Saving Account debit card to pay for health care provider and when insurance paid the balance and got a refund in the same HSA account electronically. Is the partial money refunded (paid by insurance) considered toward contribution or will it be taxed in addition to 20% penalty?

Any suggestion on how to handle this refund will be highly appreciated.
 
Posted on 03-20-21 7:35 AM     [Snapshot: 145]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

I was not in that situation but I personally think just report your expenses from the report you get in the mail (forgot the name of the paper 1099-SA or something) and don't take out any money from HSA account for personal uses other than Health related expenses with receipt Good luck.
Last edited: 20-Mar-21 07:35 AM

 
Posted on 03-20-21 11:51 AM     [Snapshot: 240]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

https://ttlc.intuit.com/community/taxes/discussion/my-hsa-paid-for-the-full-dental-charge-my-insurance-covered-a-portion-and-sent-me-a-check-do-i-need/00/302464
 
Posted on 03-20-21 5:10 PM     [Snapshot: 315]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Don't pay through HSA. HSA is a great tool to build wealth. Pay through your credit card.
 
Posted on 03-20-21 8:44 PM     [Snapshot: 343]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Agree with sajhamitra's suggestion. If possible always pay using your credit card. Let your money in the HSA grow tax free. Save your receipts for all the medical expenses and you can always reimburse yourself in the future whenever you need it.

Bonus: You get some points when you pay using your credit card.
 
Posted on 03-21-21 1:00 AM     [Snapshot: 398]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Exactly @Nepali, I am shocked many don't know about it and it's greatest wealth building tool. People can definitely save thousands if not 10s of thousands if done right.
 


Please Log in! to be able to reply! If you don't have a login, please register here.

YOU CAN ALSO



IN ORDER TO POST!




Within last 365 days
Recommended Popular Threads Controvertial Threads
What stocks to buy -- Any recommendation
yo sajha bros, anyone got any update on TPS?
🙏 दलाल स्ट्रिट 🙏
हेरेको तिमीलाइ आँखाले हैन।
Conservative discussions
Moving California with gross annual income under 200k
U.S State Dept for Nepal - Level 4: Do Not Travel Nepal #TPS
सालीको चाक
पाप न साप घोप्टो पारि थाप !!
What are your first memories of when Nepal Television Began?
The Facebook Surprise
Afganistan
Nepali guards in Afghanistan
सेक्सी कविता - पार्ट २
मलाई ब्रेड खायो कि सारै पाद आउछ..
नौटंकी
Adhikar.org spreading lies that TPS Nepali Citizen are NOT welcome in Nepal
TPS question on immigration legislation pass by House Judiciary Committee today!!
dELTA variant is a hoax !!
🚨BREAKING: The Senate's budget resolution text is out & it includes $107 billion to create a pathway to citizenship for millions of DACA recipients, TPS holders, farm workers & essential workers.
sarai chada vaye keti haru
नेपाल र अफगानिस्थानको टि पि एस रिडेजिकनेसन साथसाथै हने कुरो छ
is Rato Bangala school cheating?
NOTE: The opinions here represent the opinions of the individual posters, and not of Sajha.com. It is not possible for sajha.com to monitor all the postings, since sajha.com merely seeks to provide a cyber location for discussing ideas and concerns related to Nepal and the Nepalis. Please send an email to admin@sajha.com using a valid email address if you want any posting to be considered for deletion. Your request will be handled on a one to one basis. Sajha.com is a service please don't abuse it. - Thanks.

Sajha.com Privacy Policy

Like us in Facebook!

↑ Back to Top
free counters