Can You Pay Insurance Premiums with HSA Funds?

Laura Adams, MBA
1-minute read

Q. Can money in an HSA (Heath Savings Account) be used to pay premiums for health insurance or life insurance, for instance?

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A. You can only use HSA funds to pay for the following types of insurance:

  • Long-term care insurance
  • Health care continuation coverage (such as COBRA)
  • Health care coverage while you receive unemployment compensation
  • Medicare and other health care coverage if you’re 65 or older.

You’ll find complete information about Heath Savings Accounts in IRS Publication 969.

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About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura's previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.