This Web site contains a compilation of more than a thousand consumer finance
columns written by Tony Novak from the 1980s through 2006, updated and reformatted for
maximum usefulness today. New material will be added beginning in late
2010.
Content is the opinion of the author and does not represent the
position of any other person or entity. Information is from sources believed to
be reliable but cannot be guaranteed.
The author is paid for product endorsements and has an ownership or
other financial interest in the businesses related to the topics
covered.
Freedom Benefits Insurance Exchange
- your source of valuable information on state and federal health reform
benefits.
Core Health Plus
- America's favorite mini-med insurance with affordable premiums, freedom
to choose providers, optional PPO discounts and guaranteed eligibility
regardless of medical conditions.
Please support the Web sites that make publication of AskTony
services possible.
Health Savings Account coverage date
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not been recently
reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.
Q:
If I open an HSA account any time during the year, are medical expensive incurred in the same year but prior to opening the HSA account and funding it eligible for the pretax treatment?
A:
Expenses incurred after the health savings account has been funded may be paid with tax-free HSA funds. It is the date that the expense is incurred that matters for this purpose, not the date that you made the payment to the medical provider. (This response was updated after 2004 based on more recent IRS interpretations of trust account law).
Summary
More resources:
healthsavingsaccount-hsa.com
