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HSA Frequently Asked Questions

 
           

 

Click on a question below to read the answer
If you are unable to locate your question on this list, please contact Customer Service.
1.  What is a Health Savings Account (HSA)?
2.  How does an HSA affect my taxes?
3.  What is an HDHP?
4.  Who is eligible?
5.  How do I set up an HSA?
  6.  What am I allowed to use my HSA money for?
7.  How do I fund my HSA?
8.  What are the rollover rules?
9.  Can I borrow against my HSA?
6. What am I allowed to use my HSA money for?
> Does an HSA pay for things that regular insurance pays for?
> How do I know what is included as "qualified medical expenses"?
> Who decides whether the money I'm spending from my HSA is for a "qualified medical expense"?
> What happens if I don't use the money in the HSA for medical Expenses?
> Are dental and vision care qualified medical expenses under an HSA?
> Can I use the money in my HSA to pay for medical care for a family member?
> Can I use my HSA to pay for Medical services provided in other countries?
> Can I pay my health insurance premiums with an HSA?
> Can I purchase long-term care insurance with money from my HSA?
> I have an HSA but no longer have HDHP coverage. Can I still use the money that is already in the HSA for medical expenses tax-free?
> Do unused funds in an HSA roll over year after year?
> What happens to the money in an HSA after I turn 65?
> Can I use my HSA to pay for medical expenses incurred before I set up my account?
> How do I use my HSA to pay my physician when I'm at the physician's office?
> What happens to the money in my HSA when I die?
 

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