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The Health Savings Account (HSA) Distribution Form is designed to assist you in selecting an HSA distribution reason and method. Applicable law or policies of the HSA custodian/trustee may require additional documentation. A separate distributionform must be completed for each distributionreason. It is in your best interest to seek the
Eligible Federal employees who are enrolled in HDHPs can make preâtax allotments to their HSAs through The Federal Flexible Benefits Plan (FEDFLEX). The funds in your HSA can be used to pay for your plan deductible and/or qualified medical expenses that do not count towards your deductible. Features of an HSA include: 1  Your own HSA contributions are taxâdeductible. Your own HSA contributions are either taxâdeductible or preâtax (if made by payroll deduction). 2  Interest earned on your account is taxâfree. 3  Withdrawals for qualified medical expenses (external link) are taxâfree.