Advertise on Bikeforums.net



User Tag List

Results 1 to 10 of 10
  1. #1
    Junior Member
    Join Date
    Oct 2013
    Posts
    8
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)

    Possible or Not? Using an HSA on a Bicycle.

    Is it possible to buy a bicycling using your Health Savings Account? And claim it for health use? I understand you can buy anything with you HSA but if the IRS were to do an audit you get fined heavily. But say you could get a doctor to sign off on some medical condition and then would it be possible to buy a bike without any repercussions?

    Thanks, Steven

  2. #2
    Senior Member rebel1916's Avatar
    Join Date
    Aug 2011
    Posts
    2,741
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    Talk to your Dr. and see what he says.

  3. #3
    The Improbable Bulk Little Darwin's Avatar
    Join Date
    Jul 2005
    Location
    Wilkes-Barre, PA
    My Bikes
    Many
    Posts
    7,286
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    In a quick search, I found this: http://www.usu.edu/hr/files/uploads/...alexpenses.pdf

    Based on my uninformed interpretation, I would say, probably not.

    I think it is interesting that special equipment to allow hearing impaired people to effectively watch tv is allowable, but things like swimming pools, health club memberships, weight loss programs, and stop smoking programs are not...
    Slow Ride Cyclists of NEPA

    People do not seem to realize that their opinion of the world is also a confession of character.
    - Ralph Waldo Emerson

  4. #4
    Junior Member
    Join Date
    Oct 2013
    Posts
    8
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    I found more literature as well, but nothing spacific. http://www.irs.gov/pub/irs-pdf/p502.pdf

  5. #5
    Senior Member
    Join Date
    Aug 2013
    Posts
    51
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    No you cannot do that. I administer those plans. however if you have enough previous medical, dental, or vision expenses to cover the cost then you can withdrawal the funds and use them for the bike. But the expenses had to be incurred after the original effective date of the HSA.

  6. #6
    Senior Member RPK79's Avatar
    Join Date
    May 2013
    Location
    SE MN
    My Bikes
    Fuji Roubaix Pro
    Posts
    3,439
    Mentioned
    10 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by sapeacock View Post
    I found more literature as well, but nothing spacific. http://www.irs.gov/pub/irs-pdf/p502.pdf
    There is specific wording in that link you just have to know how to read tax publications.

    What are Medical Expenses?

    Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body. These expenses include payments for legal medical services rendered by physicians, surgeons, dentists, and other medical practitioners. They include the costs of equipment, supplies, and diagnostic devices needed for these purposes.

    Medical care expenses must be primary to alleviate or prevent a physical or mental defect or illness. They do not include expenses that are merely beneficial to general health, such as vitamins or a vacation.

  7. #7
    Humvee of bikes =Worksman Nightshade's Avatar
    Join Date
    May 2004
    Posts
    5,259
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by sapeacock View Post
    Is it possible to buy a bicycling using your Health Savings Account? And claim it for health use? I understand you can buy anything with you HSA but if the IRS were to do an audit you get fined heavily. But say you could get a doctor to sign off on some medical condition and then would it be possible to buy a bike without any repercussions?

    Thanks, Steven
    A bicycle is not a known piece of "durable medical equipment". A such it doesn't qualify as a medical expense.
    My preferred bicycle brand is.......WORKSMAN CYCLES
    I dislike clipless pedals on any city bike since I feel they are unsafe.

    Originally Posted by krazygluon
    Steel: nearly a thousand years of metallurgical development
    Aluminum: barely a hundred, which one would you rather have under your butt at 30mph?

  8. #8
    Senior Member BlazingPedals's Avatar
    Join Date
    Dec 2004
    Location
    Middle of da Mitten
    My Bikes
    Trek 7500, RANS V-Rex, Optima Baron, Velokraft NoCom, M-5 Carbon Highracer, homebuilt recumbent
    Posts
    7,105
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    This question is along the same lines as the guy who wanted to claim his recumbent trike was a "mobility device" just like an Amigo or a wheelchair, and be allowed into grocery stores, dept stores, theaters, etc. (In addition to having his health insurance pay for it.)

    They're both the same, right?

    or ???

  9. #9
    Senior Member zonatandem's Avatar
    Join Date
    Dec 2003
    Location
    Tucson, AZ
    My Bikes
    ariZona carbon fiber tandem & single
    Posts
    9,962
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    It's like apples and oranges . . . both are fruit, right?

  10. #10
    Senior Member Garfield Cat's Avatar
    Join Date
    Oct 2004
    Location
    Huntington Beach, CA
    My Bikes
    Cervelo Prodigy
    Posts
    5,047
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by bbarnett51 View Post
    No you cannot do that. I administer those plans. however if you have enough previous medical, dental, or vision expenses to cover the cost then you can withdrawal the funds and use them for the bike. But the expenses had to be incurred after the original effective date of the HSA.
    Administrator: how about those who "game the system"?? Durable Medical Equipment?

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •