General HSA FAQs
Frequently Asked Questions
- What is an HSA?
- How does an HSA Work?
- What are the benefits of an HSA?
- What are the requirements of an HSA? Am I eligible?
- What are the tax implications of investing my HSA funds?
- What designates a qualifying High Deductible Health Plan?
- Do I have to get an HSA if I am on a High Deductible Health Plan?
- How does money get into my HSA account?
- How can I get an HSA?
- If I have a family, can I still have an HSA?
- Can I have a joint-HSA with my spouse?
- Are there limitations on what I can spend using my HSA?
- I am 55 or older. Is there a catch-up contribution I can make?
- If I have a qualifying HDHP, do I have to open an HSA?
- How much can I contribute into an HSA?
- Is it mandatory for employers to make contributions to their employees' HSA accounts?
- Who is ultimately responsible for the HSA?
- Are there income limits or restrictions to be able to contribute to an HSA?
- Isn't an HSA the same as an FSA?
- What happens if I use my money to pay for a non-qualified expense?
- What's the difference between an HSA and an HRA?
- What records do I need to keep to justify spending money on a qualified medical expense?
- What happens when I make a distribution from my HSA?
- What do I do if I already have an HSA?
- Can an employer contribute different amounts to different employees?
- Are employer contributions tax-deductible?
- Why should I put money into my HSA over some other savings vehicle (e.g., 401(k))?
- Why haven't I heard a lot about HSAs?
- If I have an HSA and I die, what happens?
- What happens to my HSA if I declare bankruptcy?