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HSA Basics: Using Your HSA

Using Your HSA

You can use the money in the account to pay for any hsa qualified medical expenses permitted under federal tax law. This includes most medical care and services, and dental and vision care, and also includes over-the-counter drugs such as aspirin.

You can generally not use the money to pay for medical insurance premiums, except under specific circumstances, including:

  • Any health plan coverage while receiving federal or state unemployment benefits.
  • COBRA continuation coverage after leaving employment with a company that offers health insurance coverage.
  • Qualified long-term care insurance.
  • Medicare premiums and out-of-pocket expenses, including deductibles, co-pays, and coinsurance for:
    • Part A (hospital and inpatient services)
    • Part B (physician and outpatient services)
    • Part C (Medicare HMO and PPO plans)
    • Part D (prescription drugs)

You can use the money in the account to pay for medical expenses of yourself, your spouse, or your dependent children. You can pay for expenses of your spouse and dependent children even if they are not covered by your HDHP.

Any amounts used for purposes other than to pay for “qualified medical expenses” are taxable as income and subject to an additional 10% tax penalty. Examples include:

  • Medical expenses that are not considered “qualified medical expenses” under federal tax law (e.g., cosmetic surgery).
  • Other types of health insurance unless specifically described above.
  • Medicare supplement insurance premiums.
  • Expenses that are not medical or health-related.

After you turn age 65, the 10% additional tax penalty no longer applies. If you become disabled and/or enroll in Medicare, the account can be used for other purposes without paying the additional 10% penalty.

Next: Advantages of HSAs

HSA Basics - Other Sections

Health Savings Accounts (HSA)

High Deductible Health Plans (HDHPs)

HSA Contributions

What Happens to My HSA When I Die

Opening Your Health Savings Account

Need More Information about HSAs

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