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What happens if I don use the HSA funds for “qualified medical expenses”?

April 26, 2017funds happens HSA qualified medical expenses

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What happens if I don use the HSA funds for “qualified medical expenses”?

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Funds used for anything other than “qualified medical expenses” will be subject to taxation and a possible additional 10% tax penalty. You will be responsible for claiming any funds used for expenses other than “qualified medical expenses” when completing your annual tax return.