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Will The Distribution From My HSA Be Tax & Penalty-Free?

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Assets and Investment Planning
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An HSA account is one of the most tax-efficient savings accounts available to investors. While many of the distribution rules are straightforward, there are several factors and exceptions that should be considered before a client takes a distribution from their HSA, including:

  • Classification as a Qualified Medical Expense
  • Eligibility of LTC insurance premium payments
  • Eligibility of health insurance premium payments
  • Impact if the distribution occurs before/after turning age 65
  • Use of HSA funds to pay Qualified Medical Expenses of family members
  • Timing of expenses

 

Updated 12/1/2022


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