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HSA help

kristinleighkristinleigh
in Cincinnati Babies

I have an HSA from a previous job.  I have a decent balance left in the account that has been just sitting there for a few years.  I thought I would be able to roll it over to my IRA but my IRA provider said it can't be rolled over.  Does anyone know what I can do with this $ or know anyone who I can speak with regarding it?  I'm hoping I can use it for medical expenses (i.e. hearing aids and/or glasses, etc.)

Thanks!

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Re: HSA help

  • KristenBtobeKristenBtobe member
    You should be able to expend it for qualified medical expenses. 
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  • Ttimes3Ttimes3
    I'm 99% sure we (meaning, your H's employer) are going 100% HSA, next year. That said, you *might* be able to roll your previous HSA into your [soon to be set up] account. Of course, I might be making all of that up, but it might be worth asking (or having your H call Netbenefits) about.
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  • kristinleighkristinleigh

    We have an HSA currently for our health insurance actually - so I'm looking into rolling it over - I didn't realize that was an option until I started researching this. 

    Thanks!

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  • Ttimes3Ttimes3
    imagekristinleigh:

    We have an HSA currently for our health insurance actually - so I'm looking into rolling it over - I didn't realize that was an option until I started researching this. 

    Thanks!

    Gotcha! How do you like it? For some reason, I'm *fearful* of switching over from the HMO option.

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  • KristenBtobeKristenBtobe member
    I don't know that you can roll over from one HSA/FSA to another. At least I couldn't when I switched from my insurance to Mike's insurance.
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  • Ttimes3Ttimes3

    imageKristenBtobe:
    I don't know that you can roll over from one HSA/FSA to another. At least I couldn't when I switched from my insurance to Mike's insurance.

    Well, that just sucks a big, rotten egg. I don't work on the benefits side, so I was just guessing.

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  • kristinleighkristinleigh

    Yeah I found out that I can't roll it to the HSA because the insurance is through his work.  But I can still use it for qualified medical expenses so at least it's able to be used.  Momma's getting new glasses (have had the same pair since 2000 - yep, it's time for an upgrade) and hopefully replacing my much needed hearing aid as well.  Set up a consult for that next week already! 

    TTT - so far so good on the HSA.  I had one before for the non-profit I worked for b/c it was my only option and it wasn't so bad, but it was just me b/c I was single then.  We haven't had any major claims yet - just doctor visits and prescriptions, so I can't really say either way.  When it gets complicated like for surgeries and L&D and such is where I get confused as to how it all works!  

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  • jerseygirl81jerseygirl81 member

    imageKristenBtobe:
    I don't know that you can roll over from one HSA/FSA to another. At least I couldn't when I switched from my insurance to Mike's insurance.

    Huh, that's interesting. I rolled over my 5/3 to my Kemba when I started my new job. Maybe it depends on the plan and the banks?

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  • kristinleighkristinleigh
    imagejerseygirl81:

    imageKristenBtobe:
    I don't know that you can roll over from one HSA/FSA to another. At least I couldn't when I switched from my insurance to Mike's insurance.

    Huh, that's interesting. I rolled over my 5/3 to my Kemba when I started my new job. Maybe it depends on the plan and the banks?

    My understanding is that if I was currently working and had an HSA/my own insurance, I could roll it over to that account, but I cannot roll it over to my husband's insurance. 

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