The Internal Revenue Service (IRS) requires Bank of America (the bank that us used by Reliant's domestic medical insurance provider Highmark BCBS for providing Health Savings accounts to our medical insurance participants) 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 Bank of America to our domestic medical insurnace participants.
We’ve provided descriptions of some of the fields on the form below.
Box 1 – Gross distribution. This box shows the total amount distributed from the account during the tax year shown on the form.
Box 2 – Earnings on excess contributions. This box shows the earnings on any excess contributions distributed from the HSA by the due date of the income tax return.
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.
Box 5 – HSA. This box shows the type of account that is reported on this IRS Form 1099-SA.
If you are audited by the IRS, you may be asked to provide receipts for Qualified Medical Expenses paid using your distributions from your HSA account.
Qualified medical expenses, as defined by the Internal Revenue Code, generally include:
• Most medical care and services
• Dental and vision care
• Prescription drugs and some over-the-counter drugs that are not covered by insurance or otherwise
Medical insurance premiums are generally not considered qualified medical expenses; however, premiums paid for COBRA continuation coverage, qualified long-term care insurance (subject to certain limitations), and Medicare premiums are considered qualified medical expenses.
For more details about qualified medical expenses, please refer to IRS Publications 969 and 502, or consult a tax professional.
Bank of America's HSA help line is 1-866-791-0250
Go to https://www.highmarkbcbs.com/home/ and log in to your HSA account.
Click on Spending - select the link "Get details, cash statements, tax forms & deposit slips"
Click on "View Prior Year Tax Forms"
