Lauren Hargrave

Lauren Hargrave is a writer from San Francisco who focuses on technology, finance and wellness. She follows comedians like most people follow bands and believes an outdoor sweat session can cure almost any bad mood. She’s also been writing her first novel for so long, her mom doesn’t ask about it anymore.


Articles by Lauren Hargrave

FSA

What is a Healthcare FSA?

We all want help paying for our healthcare. Deductibles are higher than we’d like, we have copays to contend with, and our coinsurance responsibility after that deductible makes us nervous should we need a major procedure. Luckily, relief can come in the form of a Healthcare Flexible Savings Account (FSA).

5 min read

Taxes

What is Tax Form 8889?

Tax Form 8889 is where the reporting for all of the activity on your HSA comes together and the form you’ll use to report said activity to the IRS. It’s a longer form than the others and has certain line items that could require you to complete calculations in order to arrive at the appropriate number for your situation (e.g. your maximum contribution limit and additional taxes owed).

5 min read

Taxes

What is Tax Form 1099-SA?

Tax season is upon us and if you have an HSA, there are a few forms you need to be aware of. IRS Form 1099-SA is an important one. It’s the form you will receive from your HSA administrator in January that shows the distributions you’ve received from your HSA for the given tax year. You’ll receive a 1099-SA for each distribution type you received and you’ll use this information to complete Tax Form 8889.

5 min read

Taxes

What is Tax Form 5329?

One of the perks of an HSA is that there are multiple ways you can build your savings. You can contribute from your paycheck, your employer can contribute to your account, as well as your spouse, your parents, and any other loved one. You can also transfer money from another HSA and you can conduct a one-time transfer from an IRA.

4 min read

Taxes

What is Tax Form 5498?

If you’re the owner of an HSA, sometime in May (at least by June 1st) you will receive Tax Form 5498 from the trustee or administrator of your account. You may panic, because it looks like something that you should have submitted with your income taxes. Fear not, this form is only for your informational purposes.

4 min read

Health Savings Accounts

How You Can Use Your IRA to Fund Your HSA

By now, you’re probably familiar with the two most common ways to fund your HSA: contributions paid directly from your employer, withdrawn pre-tax from your paycheck, or deposited post-tax automatically from an account of your choice. But there’s another way to fund your HSA that also utilizes pre-tax money: a qualified HSA funding distribution (QHFD), also known as a qualified funding distribution (QFD) or HSA funding distribution (HFD), from your IRA.

4 min read