Health Savings Accounts IRS Guidelines
 

Health Savings Accounts IRS Guidelines


How can you use your HSA funds?

 

For favorable tax treatment, the funds in your Health Savings Account must be used for qualified expenses, including:

  • Medical expenses, such as doctor visits, prescriptions, dental care or transportation to get medical care
  • Long-term care insurance
  • Health care coverage when unemployed
  • Certain continuation-of-benefit health care coverage
  • Certain health insurance after age 65

Note that HSA funds can no longer be used for over-the-counter medication, except in limited circumstances; check with your tax advisor for details.

For more information, see IRS Publication 502.

 

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