Can You Use HSA for Assisted Living?

Many people wonder if they can use their Health Savings Account (HSA) for assisted living expenses.

Unfortunately, the answer is not straightforward. While HSAs are a great way to save for medical expenses, they are limited in their use for assisted living costs.

Assisted living facilities provide a combination of housing, healthcare, and personal care for individuals who need assistance with daily activities. These services are not always considered qualified medical expenses by the IRS, which means you cannot use your HSA funds to pay for them directly.

However, there are some exceptions and workarounds that may allow you to use your HSA for assisted living expenses:

• If the resident qualifies as
  

  Many individuals face uncertainty when it comes to using their Health Savings Account (HSA) for assisted living expenses. Understanding the rules can help you maximize your benefits.