Can You Use Your HSA for Non-Medical Expenses?

Health Savings Accounts (HSAs) are commonly used to cover medical expenses, such as doctor visits, prescriptions, and surgeries. But can you use your HSA for non-medical expenses?

The short answer is yes, but there are some important things to consider:

• Using your HSA for non-medical expenses may incur penalties.
• Once you turn 65, you can withdraw funds from your HSA for any reason without penalty (though regular income tax may apply).
• Non-medical expenses can include education costs, home improvements, or even retirement savings.

Remember that while using your HSA for non-medical expenses is an option, it's essential to weigh the potential penalties and tax implications before doing so.




Health Savings Accounts (HSAs) are designed primarily for medical expenses, but you might wonder: can your HSA be used for non-medical expenses? The answer is yes, but proceed with caution!