HSA, future reimbursement question

[cktc]

If you claim a medical expense in 2014, can you still reimburse yourself for that expense with an HSA distribution in future years? 

[justme]

Currently you can as long as you didn't pay for it with any tax advantaged money like a FSA or HRA. At least that's my understanding, I don't have a HSA. How much proof you'd need that it was paid with regular money I dint know.

[cktc]

Hmm, just found this on www.irs.gov/publications/p969/ar02.html#en_US_2014_publink1000204081

Recordkeeping. You must keep records sufficient to show that:

The medical expenses had not been taken as an itemized deduction in any year.

 
So now I have to decide if it is worth claiming the additional expenses, or if I should hold out so I can make reimbursement distributions in the future.

[ArchietheDragon]

Mar 18, 2015 13:09:18 GMT -5 cktc said:

Hmm, just found this on www.irs.gov/publications/p969/ar02.html#en_US_2014_publink1000204081

Recordkeeping. You must keep records sufficient to show that:

The medical expenses had not been taken as an itemized deduction in any year.

 
So now I have to decide if it is worth claiming the additional expenses, or if I should hold out so I can make reimbursement distributions in the future.

Why wouldn't it be worth claiming the additional expense today?

[justme]

Well to claim it you have to have expenses over 10 percent of your income. I've had good enough insurance that even hitting my max oop I haven't gotten to ten percent in a year.

[Angel!]

Also remember that if you are contributing to your HSA via paycheck, then you are avoiding all FICA taxes as well.  So there is additional tax savings from using the HSA that you can never get by claiming the expenses on your taxes.

[cktc]

Well $2900 is already earmarked for HSA distributions. Removing that, I'm hovering around $7k in expenses. Which is barely enough to itemize for federal, and worth maybe $80 for state.

If I could afford to leave all the funds in the HSA and claim everything that would probably be the best option, but I would like to reimburse myself for expenses I put on a 0% credit card that is set to expire shortly.

[ArchietheDragon]

Use the HSA for medical expenses. That is what it is there for.