Can I Save Receipts for My HSA and Withdraw Funds Later?

Yes, you can save receipts for your HSA (Health Savings Account) and withdraw funds later as long as the expenses are qualified medical expenses. HSA is a great tool for saving and paying for eligible healthcare expenses, both now and in the future.

Here are some key points to remember:

• Keep all your medical receipts and invoices for qualified expenses.
• Save these receipts for as long as needed, even years after the expense was incurred.
• You can reimburse yourself from your HSA at any time for qualified expenses.
• It's recommended to keep a detailed record of expenses and reimbursements for documentation purposes.
• Remember to only use HSA funds for qualified medical expenses.

Absolutely! Saving your receipts for medical expenses paid with your HSA is not only allowed but a smart choice. You can withdraw those funds at a later date as long as the expenses are deemed qualified by the IRS. This flexibility allows you to manage your healthcare spending effectively over time.