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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been recently reviewed or revised by the author and may be out of date.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
