Health Savings Account FAQs
- What types of Health Savings Accounts (HSAs) are available at The Island?
- How much money do I need to establish a Health Savings Account?
- How do I make contributions?
- How can I access the funds in my HSA?
- If I don't have enough for a payment, can the credit union cover me as a courtesy (assuming I am a member in good standing)?
- Can I use an ATM to make HSA deposits and/or withdrawals?
- Are there any fees associated with my Island HSA?
- My employer will be making contributions electronically, on my behalf, to my Health Savings Account. What do I need to do?
- What if I pay an expense from my HSA and later discover it is not a qualified medical expense?
- How is IRS reporting handled?
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