Smart Consumer Series – Using a Health Savings Account to Pay Long-Term Care Premiums

You can tap an HSA to pay the premiums for a long-term-care insurance policy, but the amount you can withdraw tax-free depends on your age

For 2019. the amount you can withdraw tax-free from your HSA depends on your age:

  • Age 40 or younger: $420
  • 41 to 50: $790
  • 51 to 60: $1,580
  • 61 to 70: $4,220
  • 71 or older: $5,270

If you and your spouse both have long-term care policies, you can each use money tax-free from your HSA to pay premiums, up to the aged-based maximum for each of you (based on your ages by the end of the year). These limits increase slightly each year for inflation.


We're ready to assist you

If you are looking ahead to how you can best invest your money for the future, our advisors would be happy to talk with you.

Contact us today