What if I don’t have enough money in my HSA when I need to make a payment?
HSAs act just like a regular checking account in that you can only spend what has been deposited to date. Just like your personal checking account, checks can bounce and debit cards will reject if there isn’t enough money in your account. You should always watch your health savings account balance via on-line access and/or […]
Who determines if HSA distributions are used exclusively for qualified medical expenses?
The HSA owner is responsible for using the account within the rules. As you are purchasing medical goods and services, you should save your itemized receipts showing date of service, patient name, services rendered and how much insurance paid, if any. If you are ever personally audited, you will be asked to present receipts for […]