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Understanding your HSA
Tax Implications
If I close my HSA, are there any tax penalities?
If I close my HSA, are there any tax penalities?

closing an HSA

Updated over a week ago

There are no tax penalties for closing an HSA. However, if you use HSA funds for anything other than qualified medical expenses, those distributions will be subject to ordinary income tax, and in some cases, a 20% penalty.

For more information check out this article

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