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Covered California Q&A

Covered California and Obamacare related questions from consumers, employers and agents are answered by Phil Daigle with the best information available at the time. Archived entries may no longer be accurate as the Covered California and Obamacare knowledge-base is evolving quickly. TO REQUEST A PERSONAL RESPONSE INCLUDE EMAIL ADDRESS.


Qualifying HSA Withdrawals

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Question: Can I pay my insurance premiums from my hsa account?

Answer: Not at this time. That would be a non-medical withdrawal and as such be subject to penalties and taxes. This begs the question: what is a qualified withdrawal? A qualified medical withdrawal is one for medical care as defined by Internal Revenue Code Section 213(d). The expenses must primarily be used to alleviate or prevent physical or mental defect or illness. A partial list is provided in IRS Pub 502 at the IRS website. Examples of expenses that cannot be included would be maternity clothing, cosmetic surgery, health club dues or toiletries.

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