It’s just like a bank account, but for eligible medical expenses. Here’s how it works:

  1. You put money in your HSA through weekly paycheck deductions, deposit or transfer.
  2. When you have an eligible expense, you can withdraw money from your HSA to pay for it. Like other bank accounts, you can make withdrawals with a debit card or check specific to the HSA.
  3. You can use the money in you HSA to pay for care until you reach your deductible, or for coinsurance after you reach it. Or pay for other eligible expenses not covered by your HDHP, like dental or vision care. Or, you can save the money and use it to pay for future health expenses, such as in retirement.