Q: Is an HSA exempt from collections in NC?
A: There is no specific exemption for a health savings account under Federal or State law. North Carolina residents must use the $5,000.00 "wild card" exemption to cover HSA balances - assuming that the "wild card" is available. If a debtor uses up their $35,000.00 residential property exemption, the wild card is not available. In today's times of inflated real estate and used car values, the wild card is often not available or is more wisely used on excess equity in a vehicle.
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