Reimbursement from HSA

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marathonwmn
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Joined: Tue Jul 01, 2008 1:15 pm
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Reimbursement from HSA

Post by marathonwmn »

Can I reimburse myself for Medicare Part B Premiums and Long Term Care Insurance Premiums for prior years in which I've not itemized?

Thank you.
The race goes not to the swift, but to those who keep on running. . .
ModifiedDuration
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Re: Reimbursement from HSA

Post by ModifiedDuration »

Yes, as long as those expenses were incurred after you first opened your HSA account and as long as the long term care insurance premiums are within the IRS limits.

The long term care insurance premium limits were $4,350 for ages 61-70 and $5,430 for ages 71 and above in 2020. In 2021, they are $4,520 for ages 61-70 and $5,640 for ages 71 and above.

You can also reimburse yourself for Part D premiums and for IRMAA costs related to both Part B and Part D.
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marathonwmn
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Joined: Tue Jul 01, 2008 1:15 pm
Location: West of the Atlantic

Re: Reimbursement from HSA

Post by marathonwmn »

ModifiedDuration wrote: Mon May 03, 2021 3:50 pm Yes, as long as those expenses were incurred after you first opened your HSA account and as long as the long term care insurance premiums are within the IRS limits.

The long term care insurance premium limits were $4,350 for ages 61-70 and $5,430 for ages 71 and above in 2020. In 2021, they are $4,520 for ages 61-70 and $5,640 for ages 71 and above.

You can also reimburse yourself for Part D premiums and for IRMAA costs related to both Part B and Part D.
Thank you for taking the time to reply. Yes, the HSA account has been opened for years and the expenses have all been incurred after it was opened.

The long term care insurance premiums are under $2,500.00 so I'm Ok in that respect.

Best regards.
The race goes not to the swift, but to those who keep on running. . .
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