Both my husband and I have officially left corporate life and have been evaluating plans on California's ACA site.
We started looking at an HSA-eligible plan, which would allow us to sock away some funds this year in preparation for next year's expenses. I did just read that CA treats HSAs as taxable accounts. Further, I saw a reference on Bogleheads that most HSA administrators don't track HSA dividends and gains well, which means accounting for them separately on CA taxes can be challenging.
Does anyone here have an HSA in CA? Could you provide any feedback on how it's been for you to account for an HSA on CA taxes? I'm thinking some evaluation of HSA Administrators and their available reporting is in my near future. Trying to evaluate benefits vs. PITA of the HSA here. Thanks!
We started looking at an HSA-eligible plan, which would allow us to sock away some funds this year in preparation for next year's expenses. I did just read that CA treats HSAs as taxable accounts. Further, I saw a reference on Bogleheads that most HSA administrators don't track HSA dividends and gains well, which means accounting for them separately on CA taxes can be challenging.
Does anyone here have an HSA in CA? Could you provide any feedback on how it's been for you to account for an HSA on CA taxes? I'm thinking some evaluation of HSA Administrators and their available reporting is in my near future. Trying to evaluate benefits vs. PITA of the HSA here. Thanks!