Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How much tax will I pay if I use my Definity HSA funds for non-qualified expenses?

April 26, 2017definity expenses funds HSA non-qualified pay tax

0

Posted

How much tax will I pay if I use my Definity HSA funds for non-qualified expenses?

1 Answer

0

Posted

Any funds you withdraw from your Definity HSA for non-qualified expenses will be taxed at your income tax rate plus 10 percent of the amount paid. The 10 percent excise tax will not apply if you are age 65 or older, disabled, or withdrawing funds for a deceased accountholder.