Frequently asked questions and answers about your Health Savings Account are listed below.
What happens to my HSA if I die?
If your spouse becomes the owner of the account, your spouse can use it as if it were their own HSA. If you are not married, the account will no longer be treated as an HSA upon your death. The account will pass to your beneficiary or become part of your estate (and be subject to any applicable taxes).
Where can I open a health savings account?
Banks, credit unions, insurance companies and other financial institutions are permitted to be trustees or custodians of these accounts. Other financial institutions that handle IRAs or Archer MSAs are also automatically qualified to establish HSAs.
mBank offers Health Savings Accounts. Call your local mBank branch office
for more information.
Need more information on HSAs?
The U.S. Department of the Treasury website has additional information about Health Savings Accounts
, including answers to frequently asked questions related to IRS forms and other publications, technical guidance, and links to other helpful websites.