Can I Reimburse 2018 Medical Expenses From My HSA? - Everything You Need to Know

Have you been wondering if you can reimburse your 2018 medical expenses from your HSA (Health Savings Account)? Let's dive into this topic and provide you with all the information you need to know!

Firstly, it's important to highlight that HSA funds can be used to pay for qualified medical expenses, as outlined by the IRS. These expenses include a wide range of medical services, treatments, and products. However, when it comes to reimbursing expenses from a prior year, such as 2018, there are some specific rules to consider.

Here are some key points to keep in mind when it comes to reimbursing 2018 medical expenses from your HSA:

• You can reimburse eligible medical expenses incurred after you established your HSA, even if they were from a prior year like 2018.
• The expenses must have been incurred after the HSA was opened.
• It's crucial to keep receipts and documentation for all medical expenses to support reimbursement claims.
• Reimbursing previous year's expenses can be done at any time, as long as the expenses were incurred after the HSA was established.

In summary, yes, you can reimburse 2018 medical expenses from your HSA as long as they were incurred after your HSA was opened and are considered qualified medical expenses by the IRS. Remember to keep thorough records and documentation of all medical expenses to ensure smooth reimbursement processes!

If you're wondering whether you can reimburse 2018 medical expenses from your HSA, you're not alone! Many people are unaware of the rules and benefits surrounding Health Savings Accounts. It's a great opportunity to utilize those funds effectively.