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Can You Pay Insurance Premiums with HSA Funds?

By
Laura Adams, MBA,

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 trusted and frequent source for the national media. Her 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. 

 

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