OK, I saved unreimbursed Med Receipts, Should I used them to generate income

[Time2]

I'm retired, I have about 6 yrs of HSA unreimbursed Medical receipts, totaling about $12,000.
I'm into maximizing Roth Conversions in a low tax bracket.
Is it time to pull the trigger and take money from my HSA?


Secondary question.
Can I also use my Medicare payments that I have made over the last 17 months against my HSA? How about the Medicare supplement payments? (plan F)

 

[pb4uski]

On the first part, yes... withdraw $12,000 and keep your receipts in case the withdrawal is questioned.

On the second part, you can include Medicare Part B and Part D premiums and any medicare deductible, but not Medigap/Medicare supplement premiums.

Don't forget, you can also include dental and vision medical costs, glasses, etc.

I did something similar to what you did a couple years ago... then each year I make a withdrawal for that year's eligible medical costs.

 

[RunningBum]

I'm retired, I have about 6 yrs of HSA unreimbursed Medical receipts, totaling about $12,000.
I'm into maximizing Roth Conversions in a low tax bracket.
Is it time to pull the trigger and take money from my HSA?

Probably. It's hard to give an absolute answer given a tidbit of information, but 65-70 is the time frame I expect to pull from my HSA. It's a good source of funds if you want to keep income low for ACA subsidies (before 65), Roth conversions, and IRMAA avoidance. And an HSA has unfavorable tax treatment to heirs, so it's best to use in your lifetime.

 

[pb4uski]

.... And an HSA has unfavorable tax treatment to heirs, so it's best to use in your lifetime.

That is why I decided to start drawing ours down.