Published: 2026-08-15
This article provides general information for reference purposes only and does not constitute professional legal, tax, medical, or financial advice. Rules and programs may change. Always verify current details with official sources or consult a qualified professional.
What can I use my HSA for?
You can use HSA funds tax-free for qualified medical expenses, including doctor visits, prescriptions, dental care, vision care, and medical equipment. You can also use them for certain over-the-counter items and health insurance premiums.
What happens if I withdraw for non-qualified expenses?
If you withdraw HSA funds for non-qualified expenses before age 65, you pay income tax plus a 20% penalty. After age 65, you pay income tax but no penalty, though you miss the tax-free benefit.
Can I use my HSA for retirement?
Yes, after age 65 you can use HSA funds for any purpose without penalty, though non-medical withdrawals are taxed as income. This makes the HSA a powerful tool for both healthcare and retirement savings.