How do I pay for my qualified medical expenses out of my HSA?
It is recommended that you use your HSA Debit MasterCard to pay for all of your qualified medical expenses, whenever possible. You will find that most of your service providers accept MasterCard. Transaction descriptions will show on your account statement. This will also make it easier to match up to your receipts.

What if my medical service provider does not accept MasterCard?
The BASIC HSA provides you with most of the features of any of any traditional Fifth Third checking accounts. This means that you can use our on-line billpayer, use an ATM, or write a check or make a withdrawal at one of Fifth Third’s banking centers to pay for qualified medical expenses.

Does my HSA have to have enough money before I can pay for a qualified medical expense?
Yes, this is a personal checking account in your name. So, the funds must be in your account before you can pay for an expense.

What if funds are not available in my HSA when I incur a qualified medical expense?
If you do not have enough money in your HSA to pay for a qualified medical expense you will need to pay for the expense by some other means. Once the money is in your HSA, you can withdraw the amount that you personally paid for the expense to reimburse yourself.

When I make a withdrawal out of my HSA to pay for a qualified medical expense do I have to pay taxes on it?
No, as long as you use your HSA only for qualified medical expenses, you should never have to pay taxes on the money.

Who is responsible for ensuring that I am only using my HSA for qualified medical expenses?
How you use your HSA is solely between you and the IRS. You will want to save all invoices and statements that will support the withdrawals out of your HSA. You should also consider using your HSA debit MasterCard to pay for qualified medical expenses so that the transaction is detailed on your HSA statements.

What if I do not use my HSA for qualified medical expenses?
If you use your HSA for expenses other than for qualified medical expenses you can subject yourself to IRS penalties. Also, inappropriate use of your HSA may leave you with out the money to pay for your qualified medical expenses should you or your family ever needs it.

What happens to any balances in my HSA that I do not use by the end of the year?
Unlike Flexible Spending Accounts that are “use it or lose it” unused contributions in you HSA will accumulate tax-free until retirement.