If this happens, you could:
- Pay the provider out of pocket and reimburse yourself over time as your payroll deductions (or after-tax contributions if you are a retiree) are deposited into your HSA. You could reimburse yourself by using your HSA checkbook, or go online and transfer funds from your HSA to your bank account.
- Access other savings or short-term investments you have.
- Increase your annual election up to the IRS limit if you have not already done so.
Remember: One of the main purposes of an HSA is to provide long-term savings that grow. Having a tax-protected “nest egg” at retirement to pay medical expenses and Medicare premiums adds a level of financial security for your retirement years.