Can hsa funds be use to pay for medical expenses incurred during the years that I have non-hsa insurance?

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opus360
Posts: 208
Joined: Mon Sep 30, 2013 10:02 am

Can hsa funds be use to pay for medical expenses incurred during the years that I have non-hsa insurance?

Post by opus360 » Sat Jan 12, 2019 5:43 am

Can hsa funds be use to pay for medical expenses incurred during the years that I have non-hsa insurance? For example:

- In 2019, I have HSA insurance. I have opened and funded HSA account already.
- In 2020, let as assume I have a non-HSA insurance. I incurred medical expenses of $2000.

In 2020 or later years, can I use my HSA account (opened and funded in 2019) to reimburse myself for the $2000 incurred in 2020?

miketheboglehead
Posts: 27
Joined: Mon Sep 14, 2015 9:32 pm

Re: Can hsa funds be use to pay for medical expenses incurred during the years that I have non-hsa insurance?

Post by miketheboglehead » Sat Jan 12, 2019 6:25 am

Yes, the HSA can be used tax free for medical expenses forever, as long as the contributions were made while eligible.

michaeljc70
Posts: 5333
Joined: Thu Oct 15, 2015 3:53 pm

Re: Can hsa funds be use to pay for medical expenses incurred during the years that I have non-hsa insurance?

Post by michaeljc70 » Sat Jan 12, 2019 1:27 pm

Sure. I've had one for many years and never spent a penny of it. I haven't had an actual HSA plan for years either. I plan on using the HSA $$$ in retirement for healthcare costs. I prefer to let it grow tax free until then. It is invested in a Vanguard fund.

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