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Table of contents

What if…

I do not have enough money in my HSA to pay a medical expense?

If you need to pay a medical bill but do not have a sufficient balance to cover the expense, you have the following options:

  1. Many healthcare providers will allow you to pay installments over a period of time. You can even set up recurring payments on the member portal once you have authorized installment payments with your provider.
  2. You can pay for medical expenses out-of-pocket and reimburse yourself once your balance is sufficient.

As long as a qualified medical expense is incurred after your HSA is established, you can use your HSA funds to cover that expense.

I leave my employer?

You own the HSA, so even if you leave your employer, the account stays with you. In fact, if you keep your HSA-qualified health plan (or enroll in another HSA-qualified health plan), you can still contribute to your HealthEquity HSA.

I change my health plan?

If your new health plan is not compatible with an HSA, you will not be able to continue making contributions to your HSA. However, any funds you have contributed can continue to be accessed tax-free to pay for the qualified medical expenses of you and your tax dependents.

You can also contribute additional funds to the account if you have not made the maximum eligible contribution based on how long you were covered, however leaving the plan early may result in excess contributions to your account. See IRS publication 969 for more details, and contact HealthEquity member services if you need help.

I die?

Establishing a beneficiary for your account will save your loved ones a lot of difficulty in the event of your death. It is one of the first actions we recommend completing when you open your HSA.

A spouse beneficiary can assume ownership of the account without tax penalties or receive a taxable lump sum distribution. All other beneficiaries would receive a taxable lump sum. Taxes are assessed on the value of the account on the date of death.