Dumb Idea Filter: Using HSA card for ineligible charges
August 22, 2014 6:26 AM Subscribe
What's the worst that will happen to me if I use my HSA card for a non-medical bill? Or a few.
I know this is a dumb idea. But I'm at the tipping point of eviction notice/shutoffs/car repossession. I"m not there yet, but if I can fix it now I am going to save myself so much money and grief and stress that I really can't handle.
I understand that there is a 20% tax in addition to having to report that money as taxable income. I can deal with that. My other option that's being considered is going to get a payday loan, and my tenuous application is impossible without the ridiculous charges.
I know it's a bad idea. I'm just hoping it won't be the worst idea ever. I really can't lose my car, car insurance, or house. FWIW I'd only be charging a few hundred dollars. Which seems a small amount, but when you don't make that much and you're covering a significant other that lost their full time job, it's rough.
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