Can HSA assets be used to pay high-deductible health plan premiums?
In most cases, no. However, within certain limits, the following insurance premiums may be paid from an HSA: • A health plan during a period of continuation of coverage required under federal law (i.e. COBRA) • A qualified long-term care insurance contract • A health plan during a period of unemployment as evidenced by the individual receiving unemployment compensation under the law • Any health insurance other than a Medicare supplemental policy for an account owner who has attained the specified age under section 1811 of the Social Security Act. The above payments will qualify as if they were medical expenses eligible for tax-free treatment.
Related Questions
- If I am enrolled in single coverage under an HSA-compatible health plan, can HSA funds be used for my spouse or eligible dependent that are not under my health plan?
- Are there programs available to help pay for individuals’ health plan premiums while they are in the process of enrolling for the HCTC?
- Can HSA assets be used to pay high-deductible health plan premiums?
