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#1256505 - 09/24/09 06:39 PM Health Savings Accounts
runninginplace Offline
Junior Member
Joined: Jun 2006
Posts: 32
Currently we have a policy to not permit overdrafts on HSAs. All items are returned. I would appreaciate input from other financial institutions as to their practice regarding overdrafts on HSAs and operational and customer service issues that result. Are there any IRS reporting issues with OD charges? Thank you for your input.

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Deposits and Payments
#1256580 - 09/24/09 07:18 PM Re: Health Savings Accounts runninginplace
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 77,215
Galveston, TX
You are handling them in the only manner that is appropriate. You might want to review this:

http://www.bankersonline.com/operations/guru2009/gurus_op070609a.html
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1256596 - 09/24/09 07:25 PM Re: Health Savings Accounts rlcarey
runninginplace Offline
Junior Member
Joined: Jun 2006
Posts: 32
Thank you, that is it exact infomation I needed to support our earlier decision. I just could not remember why we had taken that position.

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#1257610 - 09/28/09 12:03 PM Re: Health Savings Accounts runninginplace
M&M Offline
Platinum Poster
Joined: Nov 2003
Posts: 527
Midwest
We are working through a project to offer a Line of Credit on an HSA. Does anyone who has already done this have any lessons learned? Would anyone be willing to offer up their periodic statement as an example?

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