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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 |
Talk to your Dr. and see what he says.
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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... |
I found more literature as well, but nothing spacific. http://www.irs.gov/pub/irs-pdf/p502.pdf
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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.
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Originally Posted by sapeacock
(Post 16638237)
I found more literature as well, but nothing spacific. http://www.irs.gov/pub/irs-pdf/p502.pdf
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. |
Originally Posted by sapeacock
(Post 16637900)
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 |
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? http://www.affordable-mobility.com/w...ter326x280.jpg or http://www.biketcba.org/TRICORR/members/bdrach3.jpg ??? |
It's like apples and oranges . . . both are fruit, right?
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Originally Posted by bbarnett51
(Post 16638581)
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.
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