HSA Frequently Asked Questions (FAQS)

Please note, All mention of taxes is made in reference to federal tax law. Neither UMB Bank n.a., nor its parent, subsidiaries, or affiliates are engaged in rendering tax or legal advice and this document is not intended as tax or legal advice. States can choose to follow the federal tax-treatment guidelines for HSAs or establish their own; some states tax HSA contributions. Please check with each state’s tax laws to determine the tax treatment of HSA contributions, or consult your tax adviser.

    What is a Health Savings Account?

    A Health Savings Account (“HSA”) is a tax-exempt trust or custodial account created for the purpose of saving and paying for qualified medical expenses in connection with a High Deductible Health Plan (HDHP).

    An HSA is established for the benefit of an individual, and is “portable.” This means that if you change employers or leave the work force, the HSA stays with you rather than with your former employer. Your HSA at UMB Bank, n.a. is a custodial account that consists of all funds you and your employer contribute to your HSA, all investments you make with or through custodian using those funds, and all earnings on those funds.

    Who is eligible for an HSA?

    An “eligible individual” may establish an HSA. An “eligible individual” means, with respect to any month, an individual who:

    1. is covered under an HDHP as of the first day of the month.
    2. is not also covered by any other health plan that is not an HDHP (with certain exceptions for certain types of permitted coverage, as discussed more fully below).
    3. is not entitled to Medicare benefits, and
    4. may not be claimed as a dependent on another person’s tax return.


    What is a High Deductible Health Plan (HDHP)?

    An HDHP is a health plan with an annual deductible for an individual (self only) or a family (coverage for more than one individual) that meets the minimum deductible amount published annually by the U.S. Treasury Department.

    In addition, the annual out-of-pocket expenses required by the plan do not exceed the minimum deductible amount minimum deductible amount published by the U.S. Treasury Department. Out-of-pocket expenses include deductibles, co-payments, and other amounts the participant must pay for, covered benefits, but do not include premiums or amounts incurred for non-covered benefits (such as amounts in excess of usual, customary and reasonable amounts, and financial penalties).


    Can a health plan that imposes a lifetime limit on benefits still qualify as an HDHP?

    A plan does not fail to be treated as an HDHP merely because it imposes a reasonable lifetime limit on benefits provided under the plan. In such a case, amounts paid above a lifetime limit will not be treated as out-of-pocket expenses in determining the annual out-of-pocket maximum.


    Can a health plan that does not have a deductible for preventive care still qualify as an HDHP?

    A plan does not fail to be treated as an HDHP merely because it does not have a deductible (or has a small deductible) for preventive care. For this purpose, preventive care includes such items as periodic health evaluations, routine prenatal and well-child care, child and adult immunizations, tobacco cessation programs, obesity weight-loss programs, and certain screening services.


    Who can offer an HDHP?

    An HDHP may be offered by a variety of entities, including insurance companies and Health Maintenance Organizations (HMOs).


    Can you be covered by another health plan and still be eligible for an HSA?

    You are ineligible for an HSA if you are covered under another health plan (whether as an individual, spouse or dependent) in addition to your qualified HDHP, except as provided below.


    What other types of health coverage can you maintain without losing eligibility for an HSA?

    You remain eligible for an HSA if, in addition to an HDHP, you have any one or more of the following:

    • insurance under which substantially all of the coverage relates to liabilities from workers' compensation laws, torts, or ownership or use of property (such as automobile insurance).
    • insurance for a specified disease or illness.
    • insurance paying a fixed amount per day (or other period) of hospitalization.
    • coverage (whether through insurance or otherwise) for accidents, disability, dental care, vision care, or long-term care.

    You may also have coverage under an Employee Assistance Program (EAP), and you may have a discount card that enables you to obtain discounts for healthcare services or products at managed care market rates.


    Are HSAs allowed under a cafeteria plan?

    An HDHP can be provided as part of a cafeteria plan and can be used in conjunction with an HSA. The HSA can be established under a cafeteria plan.


    Can an employer allow you to elect an HSA mid-year if offered as a new benefit under the employer's cafeteria plan?

    An employer may offer an HSA mid-year as a new benefit under a cafeteria plan, and allow you to elect an HSA, so long as your election for the HSA is made on a prospective basis. In such a situation, however, you may have other coverage under the cafeteria plan that cannot be changed (e.g., coverage under a health flexible spending account) that may prevent you from being an eligible individual with respect to the HSA.

    How much does an HSA cost?

    A Healthcare Savings Account has a low monthly service fee in order to maintain the account. In addition, there are other fees that may apply depending upon the services you select from UMB (e.g. account closing fees, etc.). A fee schedule will be provided with your Terms and Conditions upon enrollment.


    How do you establish an HSA?

    If eligible, you can establish an HSA with UMB. No permission or authorization from the Internal Revenue Service (IRS) is necessary. UMB will furnish you a written HSA custodial agreement, Terms and Conditions, and Privacy Statement.


    Who can serve as an HSA trustee or custodian?

    Any insurance company or any bank can be an HSA trustee or custodian. In addition, any other persons already approved by the IRS to be trustees or custodians of IRAs are automatically approved to be HSA trustees or custodians.


    Can you revoke your HSA?

    For a period of seven days following the date on which you enter into a Health Savings Account Custodial Agreement with UMB Bank, n.a., you have the right to revoke the Agreement.

    To affect a revocation, please write:

    UMB Bank, n.a.
    P.O. Box 419226
    Kansas City, MO 64141

    or call 866.520.4HSA (4472).

    If you mail a notice, the postmark date (or date of certification or registration, if sent by certified or registered mail) will be deemed the date of delivery, provided that normal mailing procedures are followed.

    If you revoke your account within the foregoing time limits, you are entitled to a return of the entire amount deposited to your account without reduction for any fees, expenses, or commissions and without any adjustment for any investment gain or loss.

    Protect your hard-earned savings by designating a beneficiary, the person or legal entity who will receive your HSA funds when you pass away. Designating a beneficiary ensures a smooth transfer of your HSA funds, and UMB has made it easy for you! Just select your UMB HSA Beneficiary Designation online.  Log into your UMB Healthcare Services Online account and go to the Health Savings Account drop down in the upper right-hand corner. From there you will see a Beneficiary Designation link which will allow you to designate your beneficiary (ies), along with the percentage (s) of your HSA that you’d like each beneficiary to receive.

    Who may contribute to a Health Savings Account (HSA)?

    Any person (an eligible individual, an employer, a family member, or any other person) may make contributions to an HSA on behalf of an eligible individual.


    What are the rules regarding contributions made by your employer?

    If an employer makes contributions to employees’ HSAs, the employer must make available comparable contributions on behalf of all employees with comparable coverage during the same period. Contributions are considered comparable if they are either of the same amount or the same percentage of the deductible under the plan. If employer contributions do not satisfy the comparability rule during a period, then the employer is subject to an excise tax equal to 35 percent of the aggregate amount contributed by the employer to HSAs for that period.

    The comparability rule does not apply to contributions made through a cafeteria plan. The provision provides an exception to the comparable contribution requirements that allows employers to make larger HSA contributions for non-highly compensated employees than for highly compensated employees. For example, an employer is permitted to make a $1,000 contribution to the HSA of each non-highly compensated employee for a year without making contributions to the HSA of each highly compensated employee.


    In what form may contributions be made to an HSA?

    Contributions to an HSA must be made in cash. As custodian of your HSA, UMB Bank, n.a. (“UMB”) will accept contributions by check or direct deposit. UMB will also accept rollovers or transfers of assets from an Archer MSA, an HSA, an FSA, or an IRA, in accordance with the requirements of the Internal Revenue Code. The custodian will require that those rollover contributions be in the form of cash. All contributions to your HSA will initially be made to an interest-bearing HSA Deposit Account at UMB Bank, n.a. Other investments may be available within your custodial account as disclosed by us from time to time.


    How much may be contributed to an HSA?

    The maximum amount that may be contributed to an HSA for any year is a certain amount established by the IRS for each year (depending on whether you have single coverage or family coverage). The same annual contribution limit applies regardless of whether the contributions are made by an employee, an employer, or both. If you enroll in an HDHP January 1 through December 1 of the current tax year, you are allowed to make the full deductible HSA contribution for the year. Thus, you are allowed to make contributions for months prior to enrolling in an HDHP.

    You must have coverage under a qualified HDHP and remain eligible for 12 months after the end of the calendar year in which you enrolled in an HDHP. If you are not covered by an HDHP for 12 months after the end of the calendar year in which you enrolled in an HDHP, you will be subject to income tax and a 10 percent excise tax on HSA contributions for months not covered by an HDHP.

    The total contribution for the year can be made in one or more payments at any time up to your tax-filing deadline (without extensions). However, if you wish to have a contribution made between January 1 and April 15 treated as a contribution for the preceding taxable year, you may want to use the online contribution tool and check the box “prior year contribution”. If you contribute to your HSA via payroll deductions, please contact your employer for instructions on prior year contributions.


    When may “catch-up” contributions be made to an HSA?

    If you are age 55 or older, you can make additional “catch-up” contributions to your HSA. The amount of this additional “catch-up” contribution is published annually by the U.S. Treasury Department.


    What is the tax treatment of an eligible individual’s HSA contributions?

    When you make an eligible contribution to an HSA, the amount of your contribution (up to the maximum contribution limit discussed above) is deductible from your gross income, known as an “above the line” deduction for the purpose of computing your adjusted gross income. This means that your HSA contributions are deductible whether or not you itemize deductions. In addition, any person who may be claimed as a dependent on another taxpayer’s return may not claim a deduction for a contribution to an HSA. A special rule applies to certain married individuals. If either spouse has family coverage under an HDHP, both spouses shall be treated as having family coverage (and if spouses each have family coverage under different plans, as having the family coverage). The amount allowable as a deduction after application of this rule shall be divided equally between the spouses unless they agree on a different division.


    What is the tax treatment of employer contributions to an HSA?

    If you elect pre-tax payroll deductions or if your employer makes a contribution to an HSA for you, you are not allowed to deduct that contribution on your income tax return. Although you cannot deduct your employer’s HSA contribution, the contribution is not taxable to you or subject to income tax withholding or other employment taxes if it does not exceed your maximum contribution limit for that year.


    When is the deadline for contributions to an HSA for any particular year?

    You may make HSA contributions for a particular year no later than the deadline, without extensions, for filing your federal income tax return for that year. For calendar year taxpayers, this is generally the tax filing due date following the year for which the contributions were made. UMB will treat any contribution made between January 1 up to the tax filing due date, as a contribution for the current taxable year unless your employer provides notice to UMB at the time of such contribution that the contribution is for the preceding taxable year. If you contribute directly to your HSA through the HSA website, you may select “prior year contribution”.


    What happens when HSA contributions exceed the amount that may be deducted or excluded from gross income?

    A contribution made by you or your employer to an HSA that exceeds the amount allowed by law, or which is made during any year when you are not eligible to contribute, is called an “excess contribution.” Excess contributions are not deductible by you or your employer and are included in your gross tax for each year they remain in your HSA. In addition, excess contributions are subject to a six percent excise. However, you may avoid the excise tax if you remove the excess contribution from your HSA, together with any net income attributable to the excess contribution, before the due date for filing your federal income tax return, including extensions, for the year in which the excess contribution was made. In that case, the net income attributable to the excess contribution would be taxable as income for the year in which the distribution is made, but, the removed excess contribution would not be taxable as income to you. Rollover contributions do not count in determining whether an excess contribution has been made.


    Who is responsible for determining the amount of eligible contributions?

    You are responsible for determining your eligibility for an HSA and the amount of eligible contributions during any year. You are encouraged to speak with your tax adviser about these matters. As custodian, UMB has no responsibility for determining or advising you whether any contribution complies with the requirements and limitations of the Code.

    What are the rules regarding rollovers and transfers of HSA?

    You may withdraw any portion or all of the funds from one HSA or Archer MSA and roll them into an HSA with another custodian or trustee. However, you are required to roll the funds into a new HSA within 60 calendar days of your receipt of the funds. Another rule provides that you are only allowed to make one HSA rollover in a 12-month period. The 12-month period begins on the date you receive the distribution, not on the date you roll it into another HSA. In addition, you may transfer your Archer MSA or HSA funds directly from one HSA custodian or trustee to another without ever having direct control or custody of the funds. HSA rollover and HSA transfer contributions are not deductible and do not count against the annual contribution limits discussed earlier in these HSA Q&As.


    What are the rules regarding the rollover of IRA funds into an HSA?

    You are allowed a one-time, tax-free trustee-to-trustee transfer of IRA funds into an HSA if certain conditions are satisfied:

    • The transfer of funds from the IRA to HSA must be made in a direct Trustee-to-Trustee transfer.
    • You must be covered by an HDHP and remain eligible for 12 months after your IRA rollover. If you are not eligible for 12 months after the rollover, the funds transferred will be treated as taxable income and subject to a 10 percent excise tax.
    • Only Traditional or Roth IRAs can be rolled over into an HSA.
    • The amount of the IRA rollover to the HSA is subject to the maximum annual contribution limits. This means amounts transferred from your IRA, plus your employer contributions, plus your contributions, will all apply against the maximum annual contribution limit. You must ensure that the total of all these do not exceed the maximum annual contribution limits.

    What is the tax treatment of earnings on amounts in an HSA?

    Earnings on amounts in an HSA are not taxable prior to distribution from the HSA. However, HSAs are subject to the taxes imposed by Section 511 of the Code (relating to tax on unrelated business income of charitable, etc., organizations). In addition, under certain circumstances, distributions from an HSA may have tax consequences (see the following section regarding taxation of distributions).


    Will your custodian provide any tax advice in connection with your HSA?

    As custodian, UMB will provide no tax advice concerning your HSA. The tax consequences of your HSA, including all contributions to and distributions from your HSA, are your sole responsibility. You are encouraged to discuss any questions with your own tax adviser.

    When can I receive distributions from an HSA?

    You can take a distribution from your HSA at any time. A transfer of funds from your HSA Deposit Account to another investment made available through us is not considered a “distribution,” and remains part of your HSA custodial account at UMB Bank.


    How are distributions from an HSA taxed?

    Distributions from an HSA for the qualified medical expenses of yourself or your spouse or federal tax dependents are generally excludable from income for federal income tax purposes if such expenses are not covered by insurance. Distributions used for any other purpose are includible in income and may also be subject to an additional 20 percent tax (see below).


    When am I subject to the 20 percent premature distribution penalty tax?

    Generally, if an HSA distribution is included in your gross income because it is not made for “qualified medical expenses,” it will also be subject to an additional 20 percent penalty tax. This 20 percent penalty tax does not apply to distributions made after your death, disability or attainment of age 65.


    What happens if I receive an HSA distribution as the result of a factual mistake?

    If there is clear and convincing evidence that amounts were distributed from an HSA because of a mistake of fact due to reasonable cause, you may repay the mistaken distribution no later than April 15 following the first year you knew or should have known the distribution was a mistake. Under these circumstances, the distribution is not included in your gross income or subject to the 20 percent additional tax, and the repayment is not subject to the six percent excise tax for excess contributions.


    What medical expenses are eligible for taxfree distributions from my HSA

    Distributions made for “qualified medical expenses” are generally excludable from income. For this purpose, the term “qualified medical expenses” means amounts paid for the medical care, as defined in Section 213(d) of the Code, of yourself, your spouse, or your tax dependents, but only to the extent such amounts are not compensated by insurance or otherwise. This includes amounts paid for the diagnosis, cure, mitigation, treatment, or prevention of disease or for the purpose of affecting any structure or function of the body, as well as for transportation primarily for and essential to such care. Qualified medical expenses do not include insurance premiums other than premiums for long-term care insurance, premiums on a health plan during any period of continuation coverage required by Federal law (e.g., “COBRA” coverage), or premiums for healthcare coverage while an individual receives unemployment compensation.


    Is my custodian responsible for determining whether HSA distributions are used for medical expenses

    As custodian, UMB has no responsibility for determining whether distributions from your HSA are used for qualified medical expenses. It is your sole responsibility to determine the tax consequences of any distributions, for maintaining adequate records for tax purposes, and for paying any taxes and penalties arising as a result of any such distribution. You are encouraged to consult with your legal or tax adviser concerning any questions you may have.


    If I am a retiree who is enrolled in Medicare, may I receive a tax-free distribution from an HSA to reimburse my Medicare premiums?

    Such a distribution will be tax-free. When premiums for Medicare are deducted from Social Security benefit payments, an HSA distribution to reimburse an amount equal to the Medicare premium deduction is a qualified medical expense.

    Notifying UMB Healthcare Services of an HSA Accountholder Death

    Dealing with the death of a family member or friend can be an emotionally trying time. To help you through the process of notifying UMB when an accountholder has passed, please review the information below.
    When an HSA is opened, one or more beneficiaries may be designated for the account. In certain states, a spouse’s consent may be necessary if a person other than, or in addition to the spouse, is named a beneficiary or to change an existing beneficiary designation. Accountholders may wish to consult with their attorney before making a beneficiary designation.


    What happens to the HSA upon accountholder’s death?

    The treatment of an HSA upon the death of an accountholder depends on who is the designated beneficiary.  

    • If the spouse is the designated beneficiary, it will be treated as the spouse’s HSA after death.
    • If the beneficiary is someone other than the spouse, the account will no longer be treated as an HSA upon death. The fair market value of the HSA will pass to the beneficiary or becomes part of the estate and becomes taxable to the beneficiary in the year of the death.

    To be a valid beneficiary designation, UMB must have on file the completed UMB HSA Beneficiary Designation form prior to the accountholder’s death.  In the absence of a valid beneficiary designation, UMB will distribute the assets comprising the HSA upon accountholder death to their estate. 


    How to begin

    The first step is to collect the deceased's full legal name, Social Security number, HSA account number(s), certified death certificate, and any other Additional Information (as detailed below)that can help identify the HSA account(s) impacted. Additionally, UMB requires the claimant to complete, sign and return the HSA Account Payout and Closing Form

    If you have any questions about this process, please contact our customer service team at 866.520.4472, Monday–Friday, 7:00 a.m. – 7:30 p.m. CT, Saturday, 8:00 a.m. – 5:00 p.m. CT to discuss next steps or your specific situation.  

    You may want to obtain multiple copies of the certified death certificate in case you need to provide it to other agencies or for accounts at other financial institutions. You can acquire the death certificate from the funeral director who assisted with funeral arrangements, or from the Registry of Births, Deaths and Marriages in the appropriate state. 


    Additional Information

    After UMB has received the death certificate, we may require additional forms depending on the type of accounts impacted. Whether or not additional documents will be necessary is determined on your specific circumstances. We can help you determine the documentation needed and can point you in the right direction to locate those documents. You can also work with your legal advisor, attorney or accountant to compile the necessary materials. Examples of additional documents needed could include letters testamentary, letter of administration, or a small estate affidavit. See details of these documents below.

    Letters Testamentary/Letter of Administration:

    These documents validate the HSA accountholder and confirm the individual that will handle the estate now that the accountholder has passed. The letters testamentary, or letter of administration, are necessary, in some cases, if formal validation of an estate is required by state law. 

    Small Estate Affidavit:

    The necessity of a small estate affidavit varies from state to state. This document may help speed up the resolution of the estate through probate court and may be used to dissolve a deceased customer's HSA account when formal validation is not required under state law. 

    Provide Documentation to UMB

    After you have collected all the necessary documents, please contact UMB Healthcare Services at 866.520.4472 for further direction or submit the documents using one of the methods below. Be certain to include contact information for UMB Healthcare Services to reach you with any questions.

    Fax to our secure document server: 





    UMB Bank

    1010 Grand Blvd

    ATTN: HCS Operations 5th Floor MS 1020502

    Kansas City MO 64106 


    Keep in Mind

    Every situation is different and process time varies depending on account structure. UMB will begin the account transfer or dissolution process as soon as all documents are received. 

    We understand this can be a challenging time, and we hope the information provided has been helpful as you determine the first steps to notify UMB. Please contact us at 866.520.4472 if you have any questions about this process and we will assist you however we can. 


    Additional Resources that may be helpful: 
    Social Security Administration 


    U.S. Department of Veterans Affairs 


    Will I receive a statement from UMB?

    You will receive a quarterly paper statement in the mail and also be able to view your statements online. If you prefer, you may choose to go paperless. UMB will send an email notifying you when your statement is available online to view, print or save. (18 months of statements are always available.) As a result of your selection to go paperless, you will no longer receive a paper statement in the mail as of your first statement cycle after you enroll.

    What information must be filed with the IRS?

    As custodian, each year UMB will send the IRS and you a form showing the HSA’s valuation as of December 31, and a report of the contributions to your HSA for the prior year.

    Unless UMB receives a certification from you that a contribution is a roll over contribution or receives a trustee-to-trustee transfer from another custodian, all contributions will be reported as tax-deductible contributions made by you on Form 5498SA. Distributions will be reported by UMB on Form 1099SA. If you do not have any distributions for the tax year you will not receive a Form 1099SA.

    Unless you provide written notice to the contrary, UMB will conclusively assume that any distribution, whether by check, debit card, or otherwise, will be considered "normal distributions" for purposes of tax reporting.

    Normal distributions include distributions for qualified medical expenses, and expressly exclude the following:

    • return of excess contributions
    • distributions following your disability
    • distributions following your death
    • prohibited transactions.

    If a distribution falls within one of these exceptions, you must provide written notification to UMB within seven days following such distribution.

    Click here for more information on HSA tax treatment and HSA tax filing requirements.

    Your HSA at UMB Bank, n.a. is subject to the terms of the UMB Bank, n.a. Health Savings Account Custodial Agreement. Your HSA Deposit Account at UMB Bank, n.a. is governed by the terms of the Health Savings Account Deposit Account Terms and Conditions. Both of those documents are part of this enrollment package.

    If collected funds in the Deposit Account exceed an amount (a “Peg Balance”) that we establish from time to time, other investment options may be available. The particular investment options, the applicable Peg Balance for each such investment, a general description of investment options, how you may select those investments, HSA account rules, and other important disclosures are available by calling 866.520.4HSA (4472).

    What are the rules that apply if your HSA is transferred pursuant to a divorce decree?

    The transfer of your HSA to your spouse pursuant to a divorce decree is not considered a taxable transfer. After such transfer, the former spouse will be treated as the accountholder of the HSA, but the former spouse must request UMB to transfer the account to his or her name, must provide UMB with a certified copy of the divorce decree and property settlement or transfer agreement, and must sign appropriate documents to establish the account in that person's name.

    How do I keep track of my receipts for qualified medical expenses?

    Use ReceiptVault to store and organize receipts for qualified medical expenses. It’s simple and convenient to use:

    Step One: Download your receipt to your computer or take a picture with your mobile device.

    Step Two: Open Receipt Vault and add a new expense receipt.

    Step Three: Upload image. Note: If you are using a mobile device, you can take a picture of the receipt directly without having to upload.

    Step Four: Categorize your receipt (personalized settings)

    Enjoy safe and secure long-term receipt storage. Be prepared to keep original receipts using digital back up in case of audit.

    To access ReceiptVault, sign into your HSA in online banking and select ReceiptVault in the Tools tab drop-down.

    Accountholders who prefer to pay expenses out of pocket and invest HSA dollars long-term may use ReceiptVault to store receipts and easily track unreimbursed expenditures so they know the amount available for tax-free withdrawal at a later date.

    Contact UMB Healthcare Services Support for assistance at 866-520-4472.

    What can I purchase with my card?

    Use your HSA debit card to pay for qualified medical expenses. It should only be used at healthcare-related locations.


    What happens if my healthcare provider does not accept debit cards?

    You'll need to use another payment method (cash, check or credit card); reimbursement is available with UMB’s online repayment tool. You may need to wait until you receive your Explanation of Benefits (EOB) from your insurance company before you pay your provider. In these instances, you can also use UMB’s online bill-pay service. Upon your direction, UMB will send a check directly to your provider.


    Can I use my HSA card to buy healthcare-related items from Internet merchants?

    Yes, as long as your purchases are for qualified medical expenses. The Coronavirus Aid, Relief and Economic Security (CARES) Act greatly increased the number of products that can be purchased or reimbursed with an HSA. You can use your HSA funds to purchase prescription medications, as well as many over-the-counter medications without a prescription, such as pain relievers, cough syrup, heartburn medications, allergy relief, sleep aids, and more. You can also for the first time use your funds for feminine care products.


    What if my card doesn't work at the point of sale or the cashier tells me my transaction has been declined?

    You may have to use another form of payment. The decline may be due to the following reasons:

    • Your purchase wasn't considered a qualified medical expense under your HSA plan.
    • Your HSA balance was too low to cover the transaction. 


    What if I don't have enough funds in my HSA to cover the qualified medical purchases I want to make?

    Your transaction will be denied if there are insufficient funds in your account. You can either use a different payment method, or use your health savings account card to pay for part of the transaction with the funds remaining in your account and pay for the balance using a different payment method.


    Do I need to save my itemized receipts?

    Yes. Always retain your itemized receipts and prescriptions for over-the-counter medications as proof of your qualified medical purchases. You will need them if the IRS requests documentation to verify that the funds in your HSA were used only for qualified medical expenses.

    What are HSA qualified medical expenses?

    The IRS publishes a list and description of HSA medical expenses in Publication 502, Medical and Dental Expenses‡, which is available on the IRS’s Web site‡. Typical HSA qualified medical expenses include:

    • Medical expenses, insurance deductibles, co-pays, and other eligible expenses not covered by insurance
    • Hospital charges
    • Prescription drugs
    • Medical supplies
    • Over-the-counter drugs, with a prescription from your provider
    • Eyeglasses, contact lenses, solutions and eye surgery
    • Vitamins, dietary supplements, weight loss drugs, if approved by your doctor
    • Dental services, orthodontics and psychologist's fees
    • Smoking cessation programs and related over-the-counter drugs, with a prescription from your provider


    ‡When you click this link, you will leave UMB’s Web site and will go to a Web site that is not controlled by or affiliated with UMB. We have provided this link for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other Web sites may not follow the same privacy policies and security procedures that UMB does so please review their policies and procedures carefully.

    Is this card like other debit cards?

    No, the HSA debit card can only be used for qualified healthcare expenses. This card can only be used at specific healthcare-related merchants that accept debit cards.


    When asked by a merchant or directed by a point-of-sale system to choose a payment method, should I select debit or credit?

    When making a purchase using a keypad or screen, select “credit.” If there’s no keypad or screen, give the card to the merchant. When asked if you want to make a credit or debit purchase, say “credit.”

    What should I do if my card is lost or stolen?

    In case of a lost or stolen HSA card, contact customer service immediately at 866.520.4HSA (4472).

    Investments in securities through UMB HSA Saver are:
    Not FDIC Insured • May Lose Value • No Bank Guarantee