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The Internal Revenue Service (IRS) requires the bank/financial institution that administers our HSA accounts to issue IRS Form 1099-SA if you took a distribution from your HSA during the previous tax year. These forms are mailed directly by the bank/financial institution to our domestic medical insurance participants.
You will be asked to input information from this form when filing your taxes. We’ve provided descriptions of some of the fields on the form below.
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Box 3 – Distribution code. This code identifies the type of distribution that occurred. Please see the reverse side of your IRS Form 1099-SA for official IRS code definitions. Provided you only use the funds to pay qualified medical expenses, box 3 should show the distribution code No. 1, which indicates normal tax-free distributions. If you get a distribution code No. 5 in box 3 of a 1099-SA, it means you did not use all distributions from your account for qualified medical expenses. That means you must report some of the distribution on your tax return.
If your 1099-SA indicates you did not use the distribution for qualified medical expenses, you will pay income tax on the portion you used for unqualified expenses. You report the taxable amount on the “other income” line of your tax return and write “HSA” beside it. You will also have to pay an additional tax of 20 percent on the taxable portion of your distribution, which you’ll calculate on Form 8889.
Box 5 – HSA. This box shows the type of account that is reported on this IRS Form 1099-SA.
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The Internal Revenue Service (IRS) requires the bank/financial institution that administers our HSA accounts to issue IRS Form 5498-SA to anyone who maintained a HSA account during the previous tax year. These forms are mailed directly by the bank/financial institution to our domestic medical insurance participants.
You won't need this form to file your taxes but it is important to retain it with your tax records in case you are audited. We’ve provided descriptions of some of the fields on the form below.
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What number should I call if I have questions about my 1099-SA / 5498-SA Form?
For 1099-SA / 5498-SA forms covering January 1 - November 13, 2017: Bank of Americaplease call Highmark's HSA helpline is 1-866-791-0250. For 1099-SA 5498-SA forms covering November 14 - December 31, 2017: Highmark's helpline 1-866-474472-0924 (Acclaris doesn't have a direct customer service phone number to call - you'll need to contact Highmark. Highmark can help you register to access your HSA account online and then they can access your form to send you or they can assist you in how to access the form online).
Where can I find a
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copy of my 1099-SA /5498-SA Form?
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The
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1099-SA
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Reliant has been informed that Bank of America 1099-SA and 5498-SA forms will NOT be available on the Highmark website so it's important to watch for the mailed copy and to keep it with your tax records. If you cannot find your Bank of America 1099-SA and 5498-SA form - you will need to contact Highmark and they can request a duplicate copy from Bank of America. IMPORTANT: Highmark has told us this process may take a few weeks so please do NOT wait until the tax deadline to reach out and expect them to be able to provide this form quickly. Highmark's customer service number to call is 1-866-472-0924.
form arrives in January and shows distributions paid for HSA expenses in the tax year.
The 5498-SA form arrives in May and shows your HSA contributions for the tax year.
- Go to www.highmarkbcbs.com and
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- log in to your HSA account
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- Once you are logged in, up at the top, click on "Benefits"
- Then, select "Health Savings Account"
- Select "View My Account Details"
- Under My Accounts section, select "Health Saving Account"
- Alternatively, you can click on the 3 lines in the top left corner and click "My Accounts."
- Then, click "My Account Summary"
- Select "Tax Forms" from the top Menu
In the case that your most recent tax forms do not appear on this list, you will need to send a message to Highmark through their Support option:
- Log into your account so you're at the main home page, and click on "Support" from the top menu
- Click "Send a Message"
- Select your plan
- Select your topic ("General / Other" works fine)
- Leave your phone number and preferred callback time (they should not need to call you, but this is required to continue)
- Compose your message requesting your 1099-SA tax form
- You should receive a reply within 24 hours.
To view your reply messages:
- Log into your account so you're at the main home page, and click on "Support" from the top menu
- Click "View Inbox"
- Open your most recent message, and you should see the reply with the attachment there
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