Question

Taking money out of an HSA account

Forum|Forum|5 years ago
April 16, 2021
1 reply
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Hi,

I contribute to an HSA account pre-tax. I have a high deductible plan and I have eligible expenses for this year to take out the money. I want to invest the money & keep it in the account for long term, ie. 10 years etc. Do I need to have a high deductible plan when I take out the money or is it enough that when I incurred the expense, now, I have a high deductible plane. There's a good chance that I won't have a high deductible plan in the future, in 10 years.

Thank You,

H

HelenC12

No, you don't have to have a HDHP to pay for qualified expenses from your HSA. The money in your HSA is yours to use or invest even if you don't have a HDHP in the future. You only have to have a HDHP if you want to contribute to your HSA account.

Please read the following TurboTax FAQ: What is a health savings account (HSA)?

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