HSA Receipts

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ColHeights
Posts: 13
Joined: Sat Jun 24, 2017 6:09 pm

HSA Receipts

Post by ColHeights »

Recently found out I have a HD plan, so I got an HSA and maxed it out!

What do people use to keep track of HSA eligible receipts? You can’t honestly tell me that it’s all spreadsheets and print outs, right? There MUST be software that does it for you so I can tread the HSA like a Roth in retirement...RIGHT?

Thanks!
NS_Bane
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Joined: Sat Mar 17, 2018 12:27 pm

Re: HSA Receipts

Post by NS_Bane »

Excel + PDFs of bills, receipts and credit card payments.

Not sure what you mean about treating an HSA like a Roth during retirement.
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Picasso
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Re: HSA Receipts

Post by Picasso »

NS_Bane wrote: Mon Apr 05, 2021 9:03 pm Excel + PDFs of bills, receipts and credit card payments.

Not sure what you mean about treating an HSA like a Roth during retirement.
I also use excel and PDF scans of receipts.

I think OP means draw on HSA tax free just as a Roth is drawn tax free.
Doc7
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Joined: Fri Aug 24, 2007 12:55 pm

Re: HSA Receipts

Post by Doc7 »

ColHeights wrote: Mon Apr 05, 2021 8:56 pm Recently found out I have a HD plan, so I got an HSA and maxed it out!

What do people use to keep track of HSA eligible receipts? You can’t honestly tell me that it’s all spreadsheets and print outs, right? There MUST be software that does it for you so I can tread the HSA like a Roth in retirement...RIGHT?

Thanks!

Did your ensure your plan documentation states that it an HSA Eligible HD plan?
bhtomj
Posts: 194
Joined: Wed Mar 21, 2012 10:45 am
Location: Lakewood, CA

Re: HSA Receipts

Post by bhtomj »

I use Google Drive with its ability to scan. The scan timestamps the file. Sometimes i will rename the file to be meaningful.
I pulled some money last year so I created a 'reimbursed' folder and moved the backing reciepts there.
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JoMoney
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Re: HSA Receipts

Post by JoMoney »

I keep a *tax_year*_In-work folder for the current year on my computer, and a copy zipped up in a password protected zip file stored elsewhere.
I scan and keep all my receipts, account statements, bills, and other documents organized in the folder. After I file my taxes I add my final tax return to it, rename it from "in-work" to just the tax year, archive that folder, then start a new folder for the new year.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
TravelGeek
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Re: HSA Receipts

Post by TravelGeek »

- Libreoffice spreadsheet
- scan documentation (receipts, bills) as PDF to my local disk (backed up in various places)
- original paper receipt (if available) goes into a multi-pocket accordion file

So far I haven't reimbursed anything other than $xx,000 COBRA payments, but I track in the spreadsheet when an item has been reimbursed. I imagine that I will move the files/paper docs for the items I reimbursed from the HSA directory tree to the directory/folder that holds the other tax files for the given year so if there ever was a tax audit, it would all be in one place.
Last edited by TravelGeek on Mon Apr 05, 2021 10:10 pm, edited 3 times in total.
runner3081
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Re: HSA Receipts

Post by runner3081 »

-Google Sheets List
-Local Computer Storage
-Google Drive Storage
-Paper Copy Storage
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anon_investor
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Re: HSA Receipts

Post by anon_investor »

runner3081 wrote: Mon Apr 05, 2021 10:07 pm -Google Sheets List
-Local Computer Storage
-Google Drive Storage
-Paper Copy Storage
I do all but the paper copy storage. Most of my bills are not even in paper format and I pay them online, so paper never existed...
runner3081
Posts: 5993
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Re: HSA Receipts

Post by runner3081 »

anon_investor wrote: Mon Apr 05, 2021 10:23 pm
runner3081 wrote: Mon Apr 05, 2021 10:07 pm -Google Sheets List
-Local Computer Storage
-Google Drive Storage
-Paper Copy Storage
I do all but the paper copy storage. Most of my bills are not even in paper format and I pay them online, so paper never existed...
I just print out the payment receipt and store that.
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eye.surgeon
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Location: California

Re: HSA Receipts

Post by eye.surgeon »

I don't keep any receipts.

My HSA is earmarked for paying medicare premiums from age 65 until it runs out or I die. I'm 52.
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Madbull
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Joined: Thu Sep 26, 2013 11:01 am

Re: HSA Receipts

Post by Madbull »

I have Cigna through work, and they use HSA Bank for the HSA. I am more than happy to just upload my receipts to their portal, where I can notate what the expense was, date of service, notes, if/when I reimburse for that expense, etc. I'm not planning to touch the funds for a long time, and it works for me. If I ever move along to a different company, I can simply export and/or print everything to have a record outside of HSA Bank. No reason to overcomplicate things, I have the tools I need built in to the plan imo.
jebmke
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Re: HSA Receipts

Post by jebmke »

When we were still using our HSA plans I had our major providers give me an annual statement that listed all the charges and payments. You can also produce an annual report from your pharmacy. That cuts down a lot on the volume of receipts to retain.
Don't trust me, look it up. https://www.irs.gov/forms-instructions-and-publications
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KingRiggs
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Re: HSA Receipts

Post by KingRiggs »

I'm only saving receipts/records of larger expenses (> a few hundred dollars).

I would imagine that my Medicare premiums will be the biggest expenses I pay out of my HSA once I start de-accumulating in it. I doubt I'll have much problem spending it down in my later years...
Advice = noun | Advise = verb | | Roth, not ROTH | | "Remember, there's always money in the banana stand." - George Bluth, Sr.
diy60
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Joined: Wed Sep 07, 2016 6:54 pm

Re: HSA Receipts

Post by diy60 »

ColHeights wrote: Mon Apr 05, 2021 8:56 pm Recently found out I have a HD plan, so I got an HSA and maxed it out!

What do people use to keep track of HSA eligible receipts? You can’t honestly tell me that it’s all spreadsheets and print outs, right? There MUST be software that does it for you so I can tread the HSA like a Roth in retirement...RIGHT?

Thanks!
I used to only keep high cost receipts (MRI, PT, etc.) , but now I don't keep any. Medicare monthly payments will justify withdrawals from my HSA.
TxInjun
Posts: 132
Joined: Fri May 29, 2015 12:05 pm

Re: HSA Receipts

Post by TxInjun »

For those who live in a state which ignores HSA bucketing and taxes HSA contributions and gains (e.g. California) you also want to track your gains - whether dividends or CGs. One way to do this is to download the statements from your HSA custodian.

Cheers

TxIn
Mike Scott
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Joined: Fri Jul 19, 2013 2:45 pm

Re: HSA Receipts

Post by Mike Scott »

I reimburse myself once per year with any accumulated receipts and save those receipts with that year tax documents. Any $ left in the HSA moves to my "portfolio spreadsheet" and is included/invested in my long term AA. There is nothing to keep track of long term other than the stack of tax related documents. Yes, I'm one of those people who still keeps paper in filing cabinets.
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