It's important that all of your transactions are categorized correctly in your HSA, as it can impact your tax forms. Whether you need to know what each option means before choosing, or a transaction already happened and you need to update the category, here's what each option means.
Category types: what each means
New Contribution | Money you're adding to your HSA that counts toward your annual contribution limit. Select this for a standard deposit, this is the default choice for most deposits. |
Reimbursement Correction | Money going back into your HSA that shouldn't count toward your annual contribution limit, for example, a refund from a merchant or provider, or redepositing funds after an unqualified expense. |
Rollover | Funds you received from an existing HSA that you're now depositing into this one, not a direct trustee-to-trustee transfer, where the funds move between accounts without passing through you. |
A note on limitations
Some options may not be available, for example, if tax forms have already been generated for the tax year, you may no longer be able to change a transaction's category. Reach out to our support team for assistance.