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
Category types: what each means
Qualified Medical Expense | The transaction is for an IRS-qualified medical expense. |
Unqualified Expense | The transaction is for something that doesn't qualify under IRS rules. |
Correction | Funds are being withdrawn from your HSA to fix an overcontribution or an accidental deposit. |
Rollover | HSA funds are coming to your account first to be deposited into another HSA account within 60 days. |
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 certain transactions. Reach out to our support team for assistance.