Is it possible to retrieve funds from an HSA for non-health-related issues if you needed the money?

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Posted by Charles Williams (MONEY FORUMS: 4, Answers: 2)
Asked on May 2, 2016 9:17 am
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According to hsaresources.com, “Yes, however, if the funds are withdrawn for any expense other than a qualified medical expense, the IRS will impose a 20% penalty tax. After you reach age 65 you can withdraw the funds without penalty but the amounts withdrawn will be taxable as ordinary income.”

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Posted by Hannah Jane Parkins (MONEY FORUMS: 2, Answers: 4)
Answered: May 3, 2016 4:41 pm