Under federal law, most retirement assets are exempt from being part of the debtor’s bankruptcy estate and are therefore protected. However, federal law allows the states to determine whether HSA accounts are exempt from creditors. In addition, federal law allows states to opt out of the specified federal exemptions. Be sure to check with your legal counsel and tax accountant to see how you are affected.Updated:
Other articles in this section:
- Is there an HSA tax form that I need to file with my tax return?
- What if I had more than one HSA in a single tax year?
- Can you provide more information on annual taxes?
- When does Lively send out HSA tax forms?
- What are the tax implications of investing my HSA funds?
- Who is ultimately responsible for the HSA?
- What will happen to my HSA in a divorce scenario?
- Are HSAs tax-deductible at the state level?
- What happens to my HSA if I declare bankruptcy?