Pay me back ... or pay me not?
December 27, 2012 6:06 PM Subscribe
Health Savings Account filter: Should I reimburse myself before year-end?
posted by LonnieK to Work & Money (8 answers total) 2 users marked this as a favorite
In 2012 I made my max contribution to my HSA. I paid for eligible expenses from the HSA, but also – around $1k – from my ordinary checking account. Naturally, I can reimburse myself from the HSA.
But should I? What’s the advantage?
Under my high deductible health plan, I’ll be obligated for around $2.5k in the first few months of 2013. So how does a $1k reimbursement, tomorrow, from my HSA to my pocket, help me -- when I'll just have to stick it back in?
(This question doesn’t concern the tax deduction, which is determined by contributions, not distributions, so not seeking advice on that, thanks.)