Can a Health Savings Account (HSA), be used to pay for long term care, ie a home for alzheimer’s?
Can an HSA be used to pay for long term care, assisted living facility, etc etc?
Long-term care insurance premiums and expenses do qualify. A complete list of qualified expenses may be found in the IRS publication 502. http://www.irs.gov/pub/irs-pdf/p502.pdf.
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Yes – You own and you control the money in your HSA. Decisions on how to spend the money are made by you without relying on a third party or a health insurer. You will also decide what types of investments to make with the money in the account in order to make it grow.
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Long-term care insurance premiums and expenses do qualify. A complete list of qualified expenses may be found in the IRS publication 502. http://www.irs.gov/pub/irs-pdf/p502.pdf.
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http://www.higginscompanies.com Arizona medical and dental insurance.
Yes, for YOU or your dependents. NOT for your parents.
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agent, 21+ years
Some of the newer ones have that kind of flexibility. Some of the older ones may not, so you would need to check the specifics of yours.
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