If I decide to testosterone replacement therapy (TRT) on my own??

[Good.2.Go]

If you do not use all of the money by the end of the year that has been set aside in the HSA don't you lose it?

To the best of my memory you do not lose the money if it is not used within the year concerning the HSA. However the same can't be said for a Flex Spending account. I attended a meeting at work today & was told that a new rule would extend from December 31st to sometime in March for FSA's. However, I could be wrong because I did not GOOGLE the information.
There is much more benefits to an HSA. I have heard of people that's already near retirement & already participating in the maximum amount of money in a 401k using the HSA as another source of tax shelter because of it's 401k type structure it allows you to tap into that money at 69 or 72 or whatever without penalty. Plus some institutions even pay a very small amount of interest on HSA's. However I have never witnessed this with my own blue eyes.

 

[Good.2.Go]

Yes, you did give out tax advice to people regarding HSA's. You said here is what I did so you can do the same thing. I would hate for other people to go do that and later get a nasty letter from the IRS and get hit with big penalties. I tried to provide you the information from the tax code so you could see why I was correcting you. And yes, I chided you about giving out bad tax advice. You seem a sensitive about that.

Might be time to check your estrogen.

P.S. Your accountant is probably going to counter that you told him you participated in a qualifying high deductible health plan thus making you eligible for an HSA. You could be on the hook for the taxes and penalties. My advice is to give him or her a call to sort this out. Don't wait for the IRS to figure it out.

We are going to have to agree to disagree on about providing the advice. If I feel like sharing a personal experience & someone decides to try it themselves...well, that's up to them.

Megatron, with all respect I really believe there is a lot of good in you & I have seen you & Halfwit write a short book to help someone out! That is admirable & I have you both on a little pedestal of my on. But I have witnessed you clown/punk others before & I simply can't stomach it. I don't like to see anyone or anything mistreated; especially for PUN. I wish you would take this as candor critique & consider what I'm saying. Most of us are grown & can take being wrong or corrected but don't get smart with it. You are sharp as a tack but rough around the edges. I will try to refrain from sharing information without being extra cautious of the effects it could have....somewhat, maybe, I might, sorta ;-) G2G

 

[Megatron28]

If you do not use all of the money by the end of the year that has been set aside in the HSA don't you lose it?

No. The money is yours for the rest of your life to be used for medical expenses. You can use the money for other things, but you have to pay taxes and penalties if you do. Think of it as a medical IRA.

 

[Megatron28]

We are going to have to agree to disagree on about providing the advice. If I feel like sharing a personal experience & someone decides to try it themselves...well, that's up to them.

Megatron, with all respect I really believe there is a lot of good in you & I have seen you & Halfwit write a short book to help someone out! That is admirable & I have you both on a little pedestal of my on. But I have witnessed you clown/punk others before & I simply can't stomach it. I don't like to see anyone or anything mistreated; especially for PUN. I wish you would take this as candor critique & consider what I'm saying. Most of us are grown & can take being wrong or corrected but don't get smart with it. You are sharp as a tack but rough around the edges. I will try to refrain from sharing information without being extra cautious of the effects it could have....somewhat, maybe, I might, sorta ;-) G2G

Thanks for the feedback.

Here is the part you said that I took exception too. "therefore I would believe anyone that has a similar deductible would qualify for the HSA account & if you allot the generous cost that IMT charges over the course of a year; then I would believe you would also qualify for the tax benefits.". I didn't want people to be misinformed. I treated you with kid gloves prior to that.

By the way, I am not just googling this stuff. I actually am an Accountant in real life.

 

[Good.2.Go]

Thanks for the feedback.

Here is the part you said that I took exception too. "therefore I would believe anyone that has a similar deductible would qualify for the HSA account & if you allot the generous cost that IMT charges over the course of a year; then I would believe you would also qualify for the tax benefits.". I didn't want people to be misinformed. I treated you with kid gloves prior to that.

By the way, I am not just googling this stuff. I actually am an Accountant in real life.

Understood. Since I had success at it (HSA), then it would appear to me that it should work for others. Anyhow, I had you pinned for a computer science kind of guy ie...Very accurate, no room for errors, loves to read, type & respond. This explains your personality which is easier to look past some of your responses sometimes.

I'm a veteran, I care a lot for others, I sacrifice myself & name for others. I protect those that can't protect themselves & will die trying. I hate seeing the weak getting picked on. I'm normally always for the underdog. I don't hide my thoughts & I air things out. I speak in terms of prior experience & share information that I believe can be trusted by others ie.. If you or Halfwit say it's so; Odds are pretty darn good that it is, as said. All mentioned above are also my flaws. Our personalities is where we have/had conflict. I consider this is behind us now. Keep up the good work. Oh yeah, the google thing was a low blow for me; however I do fill that I must proofread everything 3 times & google before I post something because someone will point out that I should of used the word "an" before a word starting with a vowel. I don't sweat the small stuff. Truths.

 

[Megatron28]

Anyhow, I had you pinned for a computer science kind of guy ie...Very accurate, no room for errors, loves to read, type & respond.

LOL. That's not me at all. By the way, there are lots of types of accountants. And they are all different. Just like surgeons are different from obgyn's or endo's. Or Marines are different from airmen.