Can I use the HSA funds for non-healthcare expenses?

Yes. However, if you do and are under age 65, you will need to reimburse your account the funds withdrawn. If you don’t reimburse the funds, you will be taxed on the amount you use and assessed a 20 percent penalty. Once you are age 65 or older, you will be taxed for monies used for non-medical expenses, but will not pay a penalty.

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