Can You Use Money from Your HSA to Pay for a 19-Year-Old Child's Medical Expenses?

Yes, you can use money from your Health Savings Account (HSA) to pay for a 19-year-old child's medical expenses. HSAs are a tax-advantaged savings account that allows individuals to save for qualified medical expenses for themselves, their spouse, and their dependents.

Here are some key points to consider:

• HSAs provide a way to save for medical expenses with pre-tax dollars.
• Funds in an HSA can be used to pay for a wide range of qualified medical expenses, including those for your dependents.
• If your 19-year-old child is your dependent for tax purposes, you can use HSA funds to cover their medical expenses.
• However, if your child is not considered a dependent for tax purposes, you may not be able to use HSA funds for their medical expenses.
• It's important to keep track of your HSA withdrawals and ensure they are used for qualified medical expenses to avoid any tax penalties.

Absolutely! You can use your Health Savings Account (HSA) funds to pay for your 19-year-old child's qualified medical expenses, as long as they are considered a dependent for tax purposes.