What can HSA distributions be used for?
The amounts can be distributed for either qualified medical or other expenses. If the amount distributed is used for qualified medical expenses, then the distribution is tax free. If the amount distributed is used for other than qualified medical expenses, the amount distributed will be taxed and, for individuals who are not disabled or over age 65, subject to a 10% tax penalty.
Related Questions
- Must employers who make contributions to an employee s HSA determine whether HSA distributions are used exclusively for qualified medical expenses?
- Must employers making contributions to an employees HSA determine whether HSA distributions are used exclusively for qualified medical expenses?
- What can HSA distributions be used for?
