2 is the magic number
Set up two file folders, or envelopes, to hold your health care bills and receipts.
This file folder will be for unreimbursed expenses that could be paid for with HSA bank dollars. Remember to put all your receipts in this folder, including:
- Medical, dental, vision bills from providers
- Drug receipts from the pharmacy
- Over the counter drug receipts (with the prescription from your doctor)
- Over the counter supplies that qualify
This other file folder is for receipts once you have actually reimbursed the provider or yourself for the qualified expenses.
To “pending” or to “paid”
If you pay for healthcare costs with your regular (non-HSA bank) credit card, debit card, or checks, put that receipt in your “PENDING” folder. Once you write a check from your HSA account to reimburse yourself, move that claim to your “PAID” folder.
If you pay for claims with your HSA debit card or HSA checks directly, then pass “PENDING” and put those claims directly in your “PAID” folder.