HSA - Is Monthly Insurance Premium Eligible Expense?

[bhwabeck3533]

I have never used my HSA funds to pay my monthly insurance premiums for Healthcare and Dental -- are these expenses eligible under the HSA guidelines?

[Artsdoctor]

No. You can use HSA dollars to pay Medicare premiums and COBRA premiums, but not your current premiums.

[TropikThunder]

I have never used my HSA funds to pay my monthly insurance premiums for Healthcare and Dental -- are these expenses eligible under the HSA guidelines?

Many (most?) employer health plans use pre-tax money to pay for health and dental premiums, so what would be the benefit of using HSA money?

[bhwabeck3533]

I am not employed ....

[Bacchus01]

My understanding is you cannot use them for ACA premiums

[FIREchief]

No. You can use HSA dollars to pay Medicare premiums and COBRA premiums, but not your current premiums.

Can't you use them to pay for some types of supplemental health insurance premiums if you're over 65?

[TravelforFun]

No. You can use HSA dollars to pay Medicare premiums and COBRA premiums, but not your current premiums.

And you can use HSA to pay long term care insurance premium as well.

TravelforFun

[Flobes]

I am not employed ....

HSA funds can be used for insurance premiums only if your insurance is COBRA or you are collecting unemployment benefits. "I am not employed" is not by itself sufficient to qualify.

Can't you use them to pay for some types of supplemental health insurance premiums if you're over 65?

HSA funds can be used to pay Medicare premiums (i.e. B or D) but they cannot be used for supplemental insurance, i.e. Medigap.

[FIREchief]

I am not employed ....

HSA funds can be used for insurance premiums only if your insurance is COBRA or you are collecting unemployment benefits. "I am not employed" is not by itself sufficient to qualify.

Can't you use them to pay for some types of supplemental health insurance premiums if you're over 65?

HSA funds can be used to pay Medicare premiums (i.e. B or D) but they cannot be used for supplemental insurance, i.e. Medigap.

I believe that you are correct regarding Medigap, but not regarding other types of supplemental medicare insurance (e.g. employer provided Medicare supplement).

[willthrill81]

I am not employed ....

HSA funds can be used for insurance premiums only if your insurance is COBRA or you are collecting unemployment benefits. "I am not employed" is not by itself sufficient to qualify.

Can't you use them to pay for some types of supplemental health insurance premiums if you're over 65?

HSA funds can be used to pay Medicare premiums (i.e. B or D) but they cannot be used for supplemental insurance, i.e. Medigap.

I believe that you are correct regarding Medigap, but not regarding other types of supplemental medicare insurance (e.g. employer provided Medicare supplement).

For those over age 65, you can use your HSA to pay for:

-Medicare Part A premiums
-Medicare Part B premiums
-Medicare Part D (prescription drug plan) premiums and copays
-Medicare HMO, Medicare Advantage, or Medigap plan premiums
-Employee premiums for employer sponsored health insurance

However, although you can use your HSA to pay for Medicare Advantage plans, you CANNOT use your HSA to pay for Medicare Supplement Plan premiums.

https://help.ihealthagents.com/hc/en-us ... s-Also-65-

[FIREchief]

IRS Pub 969

Insurance premiums. You can’t treat insurance premiums as qualified medical expenses unless the premiums are for: 1. Long-term care insurance. 2. Health care continuation coverage (such as coverage under COBRA). 3. Health care coverage while receiving unemployment compensation under federal or state law. 4. Medicare and other health care coverage if you were 65 or older (other than premiums for a Medicare supplemental policy, such as Medigap).

I read this to say the premiums for a medicare supplement provided through an employer is reimbursable, but a supplemental policy paid for through Medicare is not. Is this incorrect? Not sure how rigorously the term "supplemental" is defined. In previous forum threads, I seem to recall that insurance from an employer that "supplements" medicare part B is qualified for reimbursement of premiums.