Do You Have to Provide Bills to Get Money from HSA?

One common question that people often ask about their Health Savings Account (HSA) is whether they need to provide bills in order to get money out of it. The answer to this question is that it depends on how you are using your HSA funds.

If you are using your HSA funds to pay for qualified medical expenses, such as doctor's visits, prescription medications, or medical equipment, then you generally do not need to provide bills to access the money. You can simply use your HSA debit card or write a check to pay for these expenses directly.

However, if you are using your HSA funds for non-qualified expenses, such as a vacation or a new TV, then you would need to provide bills or receipts to prove that the expenses were for qualified medical purposes. In this case, the withdrawals may be subject to taxes and penalties.

It's important to keep track of your expenses and ensure that you are using your HSA funds for eligible medical expenses to avoid any issues with the IRS.

Many individuals wonder if they must present receipts to withdraw money from their Health Savings Account (HSA). Generally, if you're spending on qualified medical expenses, like a doctor's appointment or prescription drugs, there's no need for receipts. You can seamlessly use your HSA debit card or write a check.