What is a qualified medical expense?
See IRS publication (502) or Common expenses.

What if I spend money from my HSA on non-qualified medical expenses?
Any withdrawals from the account for non-qualified expenses are taxed and is subject to a 10% penaltiy.If the money is used for other than qualified medical expenses, the expenditure will be taxed and, for individuals who are not disabled or over age 65, subject to a 10% tax penalty.

Are dental and vision care qualified medical expenses under a Health Savings Account?
Yes, as long as these are deductible under the current rules. For example, cosmetic procedures, like cosmetic dentistry, would not be considered qualified medical expenses.

Can I use the money in my HSA to pay for medical care for a family member?
Yes, you may withdraw funds to pay for the qualified medical expenses of yourself, your spouse or a dependent without tax penalty.  This is one of the great advantages of HSAs.

Can my health insurance premiums be paid by the HSA?
Yes, if you are collecting State or Federal unemployment benefits, or you are on COBRA.

Can I pay long-term care insurance premiums with money from my HSA?
Yes, if it is a tax-qualified long-term care insurance plan.  See IRS publication 502.

I have a Health Savings Account but do not have the HDHP anymore. Can I still spend from the account for qualified medical expenses tax free?
Yes.

What happens to unused funds in a HSA?
It rolls over every from one year to the next.

What happens to money in my HSA after I turn 65?
Keep spending out of the account for qualified expenses tax free. You can pay Medicare premiums, deductibles, copays, and coinsurance under Medicare. You can not use funds to pay for Medicare supplement premiums. 

Can I reimburse myself for medical expenses incurred prior to opening my HSA?
No. You should open your account ASAP.

Who keeps track of my HSA expenditures?
You do. Save all of your medical receipts.

How do I pay for my doctor visits from my Health Savings Account?
Most financial institutions give you checks or a debit card that looks like a Visa.

We are insurance agents not a CPAs. Every effort has been made to make sure that information in this website is accurate in regards to Health Savings Accounts and Tax Savings.  Please consult with your tax professional, the IRS, and your State revenue department.