How long does an accountholder have to request a reimbursement for qualified medical expenses?
Currently, there is no statute of limitation for when funds can be withdrawn to pay for qualified medical expenses as long as the accountholder keeps their itemized receipts. It could be done in a future year as long as their HSA was established when the expense was incurred.
UMB makes it easy to track and manage healthcare receipts all in one place by using ReceiptVault to securely store and organize HSA receipts for qualified medical expenses. Accountholders should keep their original receipts in case of audit.
Accountholders who prefer to pay expenses out of pocket and invest HSA dollars long-term may use ReceiptVault to store receipts and easily track unreimbursed expenditures so they know the amount available for tax-free withdrawal at a later date.
Introducing UMB HSA Saver
UMB HSA Saver is a unique investment platform designed with ease in mind. Account holders can easily research, buy and sell funds with a couple clicks.
HSA FAQ Resource
Find answers to your most common HSA questions in our comprehensive HSA FAQs section.