Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. But can you claim non-medical expenses using your HSA funds? The short answer is yes, but there are some restrictions. While HSAs are primarily intended for medical expenses, there are certain non-medical expenses that are also eligible for HSA funds. Here are some examples: Education expenses, including tuition, books, and supplies, Long-term care insurance premiums, COBRA health insurance premiums, Health insurance if you're unemployed, Medicare premiums (except for Medigap), The 10% penalty for non-qualified withdrawals, and more. It's essential to know that not all non-medical expenses are eligible for HSA reimbursement. Non-eligible expenses include gym memberships, cosmetic procedures, grooming products, and general wellness expenses. Before using your HSA funds for non-medical expenses, make sure to consult IRS guidelines and your HSA administrator to ensure compliance. By understanding the rules and limitations, you can make the most out of your HSA funds.

Health Savings Accounts (HSAs) offer incredible tax advantages for medical expenses, but have you ever wondered about non-medical expenses?
Yes, you can indeed use HSA funds for certain non-medical expenses, but it's crucial to know the specifics before doing so!