1.   Am I required to put in a certain amount into my HSA each month?

      No. You determine how much you put into your HSA up to annual limits set by the IRS. Or, if you choose, you can fund your account as medical expenses occur. Of course, you can only take a tax deduction for the deposits you actually make into your HSA. (Note: The limits set for 2018 are $3,450 for single coverage, or up to $6,900 for family. In addition, those over age 55, can contribute an additional $1,000/year). 


2.   How much money can I withdraw from my HSA in a given year?

      For medical, dental and vision expenses, you can withdraw as much as you have in your HSA. You can use these funds for large unexpected and uncovered medical bills such as orthodontia for yourself or your children, dental implants, intensive psychological counseling, alcohol/drug rehab and more.


3.   Can the funds I put in my HSA be invested?

      Yes. Your HSA fund can be put into any investments approved for 401ks such as bank accounts, stocks, mutual funds, bonds, etc.


4.  Can I make a loan against my HSA without incurring a penalty?

      Once a year, you are allowed to withdraw any amount from your HSA and spend it any way you choose. If those funds are repaid within 60 days there is no tax or penalty. If not repaid after 60 days, you must pay taxes on the proceeds taken plus a 10% penalty.


5.   What is the catch-up provision at age 55+?          

      If you are 55+, you can deposit an additional $1000 in your HSA each year.