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HSA FAQs

 

What is a Health Savings Account (HSA)?

Who is eligible to open a HSA?

What is a qualified high deductible health plan? (HDHP)?

Who is eligible to contribute to an HSA?

How much can I contribute to my HSA each year?

What are the advantages to having a HSA?

Can my spouse and I have a joint HSA?

What is the Routing Number for my Union Bank Health Benefit Solutions HSA?

Can I pay out-of-pocket eligible expenses with after-tax dollars instead of using my HSA funds?

What health care expenses does my HSA cover?

What if I’m no longer covered by an HDHP?

How do I access my HSA funds to pay for qualified medical expenses?

Do I need to submit receipts for my HSA expenses?

Can an HSA be used to pay previous year expenses?

What happens to my HSA when I die?

When will the 20% penalty be assessed for a distribution for non-qualified expenses?

What tax forms will I receive from Union Bank & Trust Health Benefit Solutions?

What are the penalties for taking a non-qualified withdrawal from my HSA?

How is my HSA taxed?

What is the tax treatment of contributions made by a family member or anyone else to my HSA?

Can I roll over or transfer funds from an existing HSA or Medical Savings Account (Archer MSA) into an HSA?

Can I roll over or transfer funds from my IRA to my HSA?