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HSA and claiming medical expenses

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thelink123

Junior Member
Hello,

I have a high deductable health plan (HDHP), combined with a Health Savings Account (HSA). I obviously didn't understand the way this particular HSA program worked. I foolishly thought the HSA account was being set up by my employer, but later found out that was not the case. I wish I had not been such a fool, else I would have been more diligent in establishing my HSA earlier in the year. My problem is that it says you must have the HSA account established PRIOR TO the medical expenses. You cannot pay for your medical expenses out of pocket first, and then establish an HSA mid-year and later "reimburse" yourself from your HSA account.

Thus, I am unable to claim most of my high deductable and other non-covered medical expenses out of my HSA, completely eliminating that piece of the tax benefit of an HSA/HDHP.

My question is this:
Do I have any options here, aside from claiming medical expenses as an itemized deduction (on my 1040 Schedule A)? The problem with the schedule A is that you can only claim expenses over and above 7.5% of your gross income.
Is there any way I can reclaim those expenses on my HSA?

Thanks.
 



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