Well... next month we're starting with a medical coverage with an HSA option. The plan is great (with a large employer contribution) and simply too good to pass up.
Anyway, I did some searching of existing posts but did not specifically come across answers to the following questions (at times, I can be search challenged, so don't yell if I have simply missed them):
+ Once funds are in HSA they can be used for qualified med expenses (incurred after the HSA start date) of the account owner and any dependents he/she may have even if:
The account owner no longer participates in the any/original HSA compatible plan?
The dependent did not exists at the time funds were deposited in the account (e.g., new kid)?
+ What type of receipts should I keep? Summary of benefits or actual checks/credit card statements?
Also, from what I have gathered the incurred med expenses never expire and can be claimed at any time (even 10-15 yrs down the road). Just wondering, how many of you have decided to go that route?
Thanks!
Anyway, I did some searching of existing posts but did not specifically come across answers to the following questions (at times, I can be search challenged, so don't yell if I have simply missed them):
+ Once funds are in HSA they can be used for qualified med expenses (incurred after the HSA start date) of the account owner and any dependents he/she may have even if:
The account owner no longer participates in the any/original HSA compatible plan?
The dependent did not exists at the time funds were deposited in the account (e.g., new kid)?
+ What type of receipts should I keep? Summary of benefits or actual checks/credit card statements?
Also, from what I have gathered the incurred med expenses never expire and can be claimed at any time (even 10-15 yrs down the road). Just wondering, how many of you have decided to go that route?
Thanks!