What Happens If You Charge More Than Your HSA Balance?

When it comes to your HSA balance, it's essential to stay within your limits to avoid any financial penalties or issues. If you charge more than your HSA balance, here's what may happen:

• You will likely be charged an overdraft fee by your HSA provider.
• Your transaction may be declined if there are insufficient funds in your HSA account.
• If the charge goes through, you will have a negative balance in your HSA, which needs to be repaid.
• Repaying the negative balance is crucial to avoid any further consequences, such as account closure or legal action.
• It's important to keep track of your HSA balance and only make eligible medical expenses to prevent going over your limit.

If you attempt to charge more than your HSA balance, several consequences can arise. Essentially, it's important to keep a close eye on your HSA balance to avoid any unwelcome surprises. If you find yourself overspending, you might face an overdraft fee from your HSA provider.