Can I Pay My Life Insurance With My HSA?

  1. 63333 POINTS
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    Peggy MacePRO
    Most of the U.S.
    No, unfortunately, it is not allowed by the IRS to pay for your life insurance premiums with your HSA (Health Savings Account). HSA funds can only be used for Long Term Care insurance premiums, (within limits); COBRA health insurance premiums or health care premiums paid while receiving unemployment compensation (including premiums for spouse or dependents); and premiums to pay Medicare if age 65+ (but not premiums for Medicare Supplemental policies).
    Answered on November 16, 2013
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Can you pay your life premiums with HSA funds?  At this time, the answer is no. That does not mean that in the future premiums could be as we never know one year from the next what will be legislated and what won't. Insurance laws are changing or in a state of flux these days. Nothing is impossible.
    Answered on November 17, 2013
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