Which of the following decisions would a health savings account (HSA) owner not be able to make?

Health Savings Accounts (HSAs) are a valuable tool for individuals looking to save money for medical expenses while enjoying tax benefits. As an HSA owner, you have a lot of flexibility and control over your account; however, some decisions may not be within your purview. Let's explore which decisions you may not be able to make as an HSA owner:

1. Choosing contributions limits: The IRS sets annual contribution limits for HSAs, and as an account owner, you cannot exceed these limits.

2. Using funds for non-qualified expenses: While you can use HSA funds for a wide range of medical expenses, using them for non-qualified expenses can result in tax penalties.

3. Investing in certain financial products: HSAs have restrictions on the types of investments allowed, so you may not be able to invest in certain financial products.

While a Health Savings Account (HSA) is a fantastic way to save on healthcare costs, HSA owners need to be aware of the critical guidelines that govern their spending decisions. Ignoring these can affect their financial health.