HSA Basics content
What You Need to Know About Your Health Savings Account (HSA)
Understand Internal Revenue Service (IRS) guidelines and our mobile app offerings—plus, access HSA forms.
IRS Guidelines: How can you use your HSA funds?
For favorable tax treatment, the funds in your HSA must be used for qualified expenses, including:
- Medical expenses, such as doctor visits, prescriptions, dental care or transportation to get medical care
- Long-term care insurance
- Healthcare coverage when unemployed
- Certain continuation-of-benefit healthcare coverage
- Certain health insurance after age 65
Note that HSA funds can no longer be used for over-the-counter medication, except in limited circumstances; check with your tax advisor for details.
For more information, see:
HSA forms available to you
- HSA Beneficiary Designation Form—Identify who should receive your HSA assets in the event of your death.
- HSA Contribution Form—Make a normal, mistaken distribution or rollover contribution to your HSA.
- HSA Death Distribution Request Form—Use to authorize a distribution of assets from a decedent’s HSA.
- HSA Distribution Request Form—Request a distribution from your HSA.
- HSA Individual Transfer Form—Use to initiate a direct transfer of funds from your current HSA.
- HSA Legal Name Change Form—Use to make a legal name change on your HSA.
- HSA Decedent Claim Direct Deposit Form—Request a one-time disbursement of funds from an Associated Bank HSA to another deposit account via electronic transfer relating to a decedent claim.