• Who Is Eligible
• Contributions
• Withdrawals
• Eligible Expenses
• Potentially Eligible Expenses
• Ineligible Expenses
• Crossover
• Investment Options
• HSA Debit Card
• HSA Application

Withdrawals

You can make a withdrawal from your HSA at any time. When the withdrawal is for qualified medical expenses that are not covered by any other insurance or account, you do not pay tax on the withdrawal. Unless you are disabled, age 65 or older, or die during the year; you must pay income taxes plus an additional 10% tax on any amount not used for qualified medical expenses. If you become disabled or when you reach age 65, distributions can be made for non-medical reasons without the additional tax, but amounts must be reported as taxable income. Please note: The income tax consequences of reimbursement for a non-qualified expense are your responsibility.

How Do You Make a Withdrawal?

To request a withdrawal, you will need to submit an HSA Withdrawal Request to SelectAccount, or you can complete it online. When the request is received, SelectAccount will process and issue reimbursement according to the available account balance. The appropriate payment will be issued directly to you either by check or by electronic transfer of funds along with an explanation of payment.

If the withdrawal request amount exceeds the balance in the account, we will hold the claim for up to one year and reimburse you as additional funds become available.