Frequently Asked Question

Can I Use My HSA Dollars for Other Expenses?

Last updated: September 20, 2019

Answer

You are permitted to take a distribution from your HSA at any time and for any reason; however, only those amounts used exclusively to pay for qualified medical expenses are tax-free. Any amounts you withdraw from your HSA that are not used to pay for qualified medical expenses are taxable income to you. These amounts are also subject to a 20% tax penalty unless you are age 65 or older, disabled or deceased.

 

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