Hsa Reference Guide: Fill & Download for Free

Yes. While you will not find OraQuick listed among the examples of specific approved medical expenses in IRS Publication 502, Medical and Dental Expenses, the reference guide cited by IRS Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans, used for determination of approved health expenses, OraQuick would meet the spirit of published IRS texts and fall under the broad umbrella of examples provided in these reference texts.First, start with the IRS definition of medical expenses in Pub 502:“the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body.” [page 2, 2016 edition of Pub 502]Then jump down into Pub 502 for examples of qualified medical expenses. There you will find diagnostic devices list such as blood sugar monitoring kits and pregnancy test kits. [page 7, 13, 2016 edition of Pub 502].An HIV testing kit (OraQuick) falls within these bounds.Of course, you should keep your receipt as you would any other health expense receipt to support the deductibility of an HSA withdrawal. Further, you need to keep records supporting a tax filing for three years after submission, so were you to withdraw funds from your HSA this year as a 2017 medical expense you would need to keep the receipts for three years after you filed your 2017 taxes (presumably in early 2018).

Many of the policies that Republicans have been presenting in the 2016 Presidential Race have not been tested and tried ideas. So that leads one to ask how they know they will work?Ultimately, the Republican candidates (in general), have a basic framework that they work from to reach a conclusion about a particular issue. Often, that is fueled largely by a disdain for Democratic policies that have been instituted under the Obama administration. For example, Ben Carson recently unveiled his idea of an Obamacare replacement, commonly referred to as a Health Savings Account (HSA). Carson does not have any tangible evidence that an HSA plan would work; however, after personally sifting through the realities of America in a post-Obamacare industry, he reached a very different conclusion than most Democrats.From immigration reform, to tax code though, some candidates have presented situations from other countries around the world where such policies work. At the end of the day, the Republican party sees many of the same issues, simply under a different light. Their framework guides them to believe that the solutions which have been legislated and implemented thus far are simply not working.

I think you can but I’m sure there is a guide or list or something that you can refer to. Ask your accountant. I love HSA accounts as part of your financial management strategy. Now go Max out any “matching “retirement vehicles. You are on your way to a good financial life.