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HSA MEMBERGUIDE Health savings account (HSA)Copyright 2017 HealthEquity, Inc. All rights reservedMaximizing your HEALTH SAVINGS2Account mentors4Getting started5How it works6Your HSA8Investing12Tips
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How to fill out hsahealth savings account

01
Determine your eligibility for a Health Savings Account (HSA). You must be covered by a high-deductible health plan (HDHP) to qualify for an HSA.
02
Open an HSA with a qualified financial institution. This can be a bank, credit union, or insurance company that offers HSA services.
03
Decide how much you want to contribute to your HSA. There are annual contribution limits set by the IRS.
04
Fill out the necessary forms provided by your HSA provider. This may include personal information, beneficiary designation, and investment options.
05
Start making contributions to your HSA either through payroll deductions or direct deposits.
06
Keep track of your HSA contributions and expenses to ensure you are staying within IRS guidelines.
07
Use your HSA funds for qualified medical expenses and save your receipts for tax purposes.

Who needs hsahealth savings account?

01
Individuals who want to save for future medical expenses tax-free.
02
Those with a high-deductible health plan who want to take advantage of the benefits of an HSA.
03
People looking for a way to save for retirement healthcare costs.
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A Health Savings Account (HSA) is a tax-advantaged savings account that individuals can use to pay for qualified medical expenses.
Individuals who are covered by a high deductible health plan (HDHP) and meet other HSA eligibility requirements are eligible to open and contribute to an HSA.
To fill out an HSA, individuals need to provide information about their HDHP coverage, contributions to the account, withdrawals for qualified medical expenses, and any other relevant information.
The purpose of an HSA is to help individuals save for qualified medical expenses on a tax-advantaged basis and to provide a portable savings vehicle for healthcare costs.
Information such as contributions to the HSA, withdrawals for qualified medical expenses, and any other relevant financial transactions related to the account must be reported.
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