Can you reimburse yourself from your Health Savings Account (HSA)?
Sometimes, patients prefer to use an account other than their Health Savings Account to pay for medical expenses, and I recently had a client in Nashville, Tennessee ask me if his employees could reimburse themselves from their individual HSAs. The answer is "YES" and there are usually three different ways to do it, depending on your HSA custodian. Bernie's recommended custodian allows you to reimburse yourself in the following ways:
- You can write yourself a check out of your Health Savings Account.
- You can complete a reimbursement form, and have the bank generate a cashiers check.
- You can go to any ATM and withdraw funds with your Health Savings Account designated debit card.
One more tip to remember - if you pay for a medical bill using an account other than your HSA, keep the documentation. You may need it to make the tax-advantaged HSA reimbursement.
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