Cashing out an HSA

  • Updated

HSAs are governed by CRA regulations because the funds are tax-free. They aren't cash accounts.

In fact, the only intended use for HSA funds is for the reimbursement of eligible medical expenses! That means you can only use the funds for reimbursing your eligible claims. 

If we broke the 'rules' you would be subject to negative tax implications and we don't want that!