Can you use the HSA to pay life insurance premiums?

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Can you use the HSA to pay life insurance premiums?

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Posted by Anonymous
Asked on January 29, 2025 1:06 pm
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Life insurance premiums are not considered to be HSA-Qualified Medical Expenses.

The β€œqualified medical expenses” that can be reimbursed on a tax-free basis by HSAs are limited to expenditures for medical care, as defined in Internal Revenue Code Section 223(d)(2), for the HSA account holder and his or her legal spouse and certain dependents, to the extent those expenditures are not reimbursed by insurance or from any other source.Β  A good resource that details eligible expenses is IRS Publication 502 available online at https://www.irs.gov/pub/irs-pdf/p502.pdf.

Generally, insurance premiums are excluded but exceptions are made for specified amounts ofΒ  Long Term Care insurance premiums and health insurance premiums under limited circumstances.

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Posted by Trey Tompkins (Questions: 0, Answers: 23)
Answered on January 29, 2025 1:22 pm