What are the different ways to pay for medical expenses with my HSA funds?
You can make payments at the pharmacy, at your doctor’s office or upon receiving a medical bill the following ways:
- With your HSA debit card
- Via electronic bill pay using our online banking or mobile app
- With cash – just be sure to keep your receipts for tax-filing purposes
- With a HSA check
Do I pay taxes on funds I take out of my HSA?
No, as long as these funds are used to cover qualified medical expenses.
What can I use my HSA funds for?
Use it for qualified medical expenses, which generally include most medical, dental and vision care costs. For a complete list of qualified medical expenses, please review the IRS Publication 502 (PDF).
Can other family members spend money in the account?
Yes. HSA funds can be used to pay or reimburse qualified medical expenses of the owner, his or her spouse, and any tax dependents.
Is there a deadline for reimbursing current year healthcare expenses?
No. As long as the medical expenses were incurred after you established the HSA, there is no time limit on when you must take a distribution to reimburse qualified medical expenses.