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HSA - do you save receipts?

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  • HSA - do you save receipts?

    I am now eligible for an HSA. Probably going to open it at Fidelity. Just curious how many of you actually save receipts for medical expenses? If so, what is your preferred method for saving them?

    (This has probably been asked before, but the search function won’t let me search ‘HSA’)
    48
    Yes, I save receipts
    77.08%
    37
    No, I don’t save receipts
    22.92%
    11

  • #2
    I discussed this not too long ago. I pull my expenses out and move them to my taxable.

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    • #3
      Yep - I take a picture with my phone scan app, then send myself the email, which gets archived in an HSA folder on gmail.

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      • #4
        I use Lively, and they store photos of the receipts for me

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        • #5
          Originally posted by VentAlarm View Post
          I discussed this not too long ago. I pull my expenses out and move them to my taxable.
          I can understand why you do it, but you miss out on the tax free growth doing it this way (opposed to letting it compound over an extended time)

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          • #6
            I scan my receipts, email them to myself and keep the in a separate folder. As a backup, I also download the pdf into a separate Windows Explorer folder on my laptop.

            Comment


            • #7
              Originally posted by 8arclay View Post
              I use Lively, and they store photos of the receipts for me
              While this is a nice feature I would also save them in a place that you control, whether your own device or email account. Pre Lively and Fidelity entering the HSA field, there was a thread of a forum member who lost access to their photo receipts. I don’t remember if the HSA provider got out of the business or an employer switch, but it was an issue.

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              • #8
                Just started my HSA. I have a physical folder. Maybe a digital one is warranted.

                Here's a question, can a physician write an RX for massage therapy and personal trainer?

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                • #9
                  Take a picture then goes to dropbox folder, and sort through it later

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                  • #10
                    Originally posted by burritos View Post
                    Just started my HSA. I have a physical folder. Maybe a digital one is warranted.

                    Here's a question, can a physician write an RX for massage therapy and personal trainer?
                    I think this was asked before and the answer was no. But I’m no expert.

                    Comment


                    • #11
                      Not all the receipts. Just the ones over $200

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                      • #12
                        Originally posted by 8arclay View Post

                        I can understand why you do it, but you miss out on the tax free growth doing it this way (opposed to letting it compound over an extended time)
                        Yes, I’m sacrificing some tax drag but my hope is that I’m turning turning what would be taxable income into long-term capital gains. I also will have a sizable pre-tax position as I’m maxing a 403b and 457b and employer puts in about 30k whereas I don’t have a lot extra for taxable.

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                        • #13
                          I scan them and save them but I have no real plan to take anything out any time soon.

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                          • #14
                            Save into Google Drive. Keep in mind that after the CARES act even OTC meds qualify.

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                            • #15
                              Only save those >$2k or so (maybe have $15k or so total). I consider it a sort of secondary e-fund to have these receipts in my file cabinet.

                              I am thinking we will not have a hard time finding health care expenditures to use HSA money on in retirement. I have zero concern about overfunding our HSAs.

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