Yes, you can use your Health Savings Account (HSA) to pay for your parents' healthcare expenses as long as you claim them as dependents on your taxes. This can be extremely helpful in managing the healthcare costs for your parents and ensuring they receive the care they need. Here are some important points to consider when using your HSA for your parents' healthcare: - Your parents must be your dependents: To use your HSA funds for your parents' healthcare expenses, they must qualify as your dependents according to the IRS guidelines. This usually means providing more than half of their financial support. - Eligible healthcare expenses: You can use your HSA funds to pay for qualified medical expenses for your parents, including doctor's visits, prescription medications, and other medical services. - Keep detailed records: It's important to maintain accurate records of the healthcare expenses you cover for your parents using your HSA to ensure compliance with IRS regulations. - Contribution limits: Remember that there are annual contribution limits for HSAs, so make sure to factor in both your own and your parents' healthcare expenses when planning the use of your HSA funds. Using your HSA to pay for your parents' healthcare can provide financial relief and peace of mind knowing that you can support their medical needs. If you have any specific questions regarding the eligibility of expenses or other HSA guidelines, it's best to consult with a tax professional or financial advisor for personalized advice.

Absolutely! You can utilize your Health Savings Account (HSA) to assist in covering your parents' healthcare costs, provided you have them claimed as dependents on your tax return. This can alleviate a significant financial burden while ensuring they receive the necessary care.