First HSA: Any Hints, Tips Or Tricks?

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bluerafters
Posts: 66
Joined: Mon Sep 18, 2017 7:14 pm

First HSA: Any Hints, Tips Or Tricks?

Post by bluerafters » Tue Jan 02, 2018 11:42 pm

Finally took the plunge into a HSA account at work. Any tips, tricks or advice for a first timer?

mcraepat9
Posts: 821
Joined: Thu Jul 16, 2015 11:46 am

Re: First HSA: Any Hints, Tips Or Tricks?

Post by mcraepat9 » Tue Jan 02, 2018 11:46 pm

If you plan on keeping receipts forever, make sure you scan them in. They will fade if you expect to keep them in paper form.
Amateur investors are not cool-headed logicians.

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The529guy
Posts: 610
Joined: Fri May 23, 2014 1:08 am

Re: First HSA: Any Hints, Tips Or Tricks?

Post by The529guy » Wed Jan 03, 2018 1:35 am

I save and backup electronic copies of my insurer's Explanation of Benefits statements and my HSA's transaction history for the year.

bluerafters
Posts: 66
Joined: Mon Sep 18, 2017 7:14 pm

Re: First HSA: Any Hints, Tips Or Tricks?

Post by bluerafters » Wed Jan 03, 2018 10:59 am

The529guy wrote:
Wed Jan 03, 2018 1:35 am
I save and backup electronic copies of my insurer's Explanation of Benefits statements and my HSA's transaction history for the year.
Yeah. I spent time in my online account this morning looking for this very thing. It's also been suggested to not use the HSA card, instead, use your rewards credit card that gives you % back. Then use your HSA website to submit receipts and get your money back. This might be a nightmare for paperwork and such but I can see the appeal.

bluerafters
Posts: 66
Joined: Mon Sep 18, 2017 7:14 pm

Re: First HSA: Any Hints, Tips Or Tricks?

Post by bluerafters » Wed Jan 03, 2018 11:00 am

mcraepat9 wrote:
Tue Jan 02, 2018 11:46 pm
If you plan on keeping receipts forever, make sure you scan them in. They will fade if you expect to keep them in paper form.
10 years is the window for eligibility on a HSA, correct?

runner3081
Posts: 1259
Joined: Mon Aug 22, 2016 3:22 pm

Re: First HSA: Any Hints, Tips Or Tricks?

Post by runner3081 » Wed Jan 03, 2018 2:57 pm

bluerafters wrote:
Wed Jan 03, 2018 11:00 am
mcraepat9 wrote:
Tue Jan 02, 2018 11:46 pm
If you plan on keeping receipts forever, make sure you scan them in. They will fade if you expect to keep them in paper form.
10 years is the window for eligibility on a HSA, correct?
Incorrect, it is forever.

At least right now for today's contributions.

runner3081
Posts: 1259
Joined: Mon Aug 22, 2016 3:22 pm

Re: First HSA: Any Hints, Tips Or Tricks?

Post by runner3081 » Wed Jan 03, 2018 2:58 pm

The529guy wrote:
Wed Jan 03, 2018 1:35 am
I save and backup electronic copies of my insurer's Explanation of Benefits statements and my HSA's transaction history for the year.
Interesting, I don't keep any EOB's, only detailed receipts showing payment to stores and healthcare providers.

They are stored by paper, on my computer and then Google Drive.

I have them linked up to a spreadsheet and all dated/titled the same way for ease of tracking and use later.

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