![]() If you cash out the money before you’re 65 (and don’t use the money for qualified medical expenses), you’ll have to pay taxes on the amount, and you could be hit with a hefty 20% tax penalty. Some people even view their HSA as an added retirement account. Or you can use it for non-medical expenses, just pay your regular income tax. You can continue to withdraw the money tax-free for medical expenses.
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