Get A Note To Accountholders With Multiple Account Types With Sterling Hsa We Now Support A Single

Unfortunately, there's really no such thing as a joint HSA. HSAs are, by nature and by definition of the IRS, individual accounts. This is true even if you and your spouse are both covered by a family high-deductible health plan (HDHP).

It's possible and common to have multiple HSAs—health savings accounts you can fund to cover qualified medical expenses for yourself, your spouse and your dependent family members. You may have collected them over the years from different employers, or perhaps you and your spouse each have one.

You cannot have an HSA account if your spouse has a general purpose health care FSA through his/her employer under which money can be reimbursed for your eligible health care expenses.

Yes, as long as the IRS-qualified medical expenses were incurred after your HSA was established, you can pay them or reimburse yourself with HSA funds at any time.

Yes, as long as you use the funds to pay for qualified medical expenses, you can pay for any family member who is a tax dependent on your tax return. You may also use the funds for medical expenses incurred by your child who is claimed as a tax dependent by their other parent.

Spouses cannot have a joint HSA. Each spouse who wants to contribute to an HSA must open a separate HSA. Dollars cannot be transferred between the HSAs. However, one spouse may use withdrawals from their HSA to pay or reimburse the eligible medical expenses of the other spouse, without penalty.

Yes, you can pay for eligible expenses from your HSA for yourself or your tax dependents, even if the dependent is not covered under your medical plan and even if he or she has other coverage. This includes co-pays, deductibles, and other eligible expenses for which you will not be reimbursed elsewhere.