How do HSAs work?

An individual who has an HSA and who is eligible to contribute to an HSA chooses how much they would like to contribute into their HSA each year, up to the annual maximum allowed by the IRS. Contributions can be made directly to UMB or through the employer by electing payroll deductions. Some employers also fund their employees’ HSAs. Individuals choose to pay for current eligible medical expenses with their HSA, or they pay for current expenses out of their pocket and save their HSA to pay for future medical expenses. When to use the HSA is entirely up to each HSA accountholder.