Have a close neighbor bring this up in a discussion asking for guidance and googling gave conflicting tales so I was hoping to ask this great crowd for some guidance.
Backstory: has had bad dental issues disease/tooth loss etc and recently had successful all-on-4 implant replacement surgery and had to finance it. However he told me he has had an HSA from a previous employer but was told that cant be used for dental?
My questions after googling around:
1) It is my understanding that HSA WILL cover dental if it is for treatment of gum disease/bad teeth, root canals etc for the same, implants as replacements due to loss etc. It will NOT cover getting teeth whitening or cosmetic unnecessary stuff. Is this correct?
2) You can pay yourself back from an HSA even after the procedure, IE you paid cash/credit/finance for the medical procedure upfront as long as the HSA existed prior to the procedure?
3) He could use this to pay down the finance but only the principal not any finance charges/interest (not sure if it has interest or not)?
Along with the above he should keep all his dental procedure bills/records because the IRS may hit him with a fat audit for using the HSA when talking larger amounts 20K+ in withdrawals/reimbursements from said HSA. Does this all sound right?
Thanks in advance
Backstory: has had bad dental issues disease/tooth loss etc and recently had successful all-on-4 implant replacement surgery and had to finance it. However he told me he has had an HSA from a previous employer but was told that cant be used for dental?
My questions after googling around:
1) It is my understanding that HSA WILL cover dental if it is for treatment of gum disease/bad teeth, root canals etc for the same, implants as replacements due to loss etc. It will NOT cover getting teeth whitening or cosmetic unnecessary stuff. Is this correct?
2) You can pay yourself back from an HSA even after the procedure, IE you paid cash/credit/finance for the medical procedure upfront as long as the HSA existed prior to the procedure?
3) He could use this to pay down the finance but only the principal not any finance charges/interest (not sure if it has interest or not)?
Along with the above he should keep all his dental procedure bills/records because the IRS may hit him with a fat audit for using the HSA when talking larger amounts 20K+ in withdrawals/reimbursements from said HSA. Does this all sound right?
Thanks in advance
Statistics: Posted by cosmos — Sun Sep 15, 2024 2:14 pm — Replies 4 — Views 202