Are OTC Drugs HSA Eligible? A Guide to Using Your HSA for Over-the-Counter Medications

Health Savings Accounts (HSAs) are a great tool to help you save money on healthcare expenses. One common question that arises is: are over-the-counter (OTC) drugs HSA eligible?

The short answer is yes, OTC drugs are HSA eligible. This means you can use your HSA funds to purchase a wide range of OTC medications without a prescription.

Here are some key points to keep in mind when using your HSA for OTC drugs:

• OTC drugs must be used to treat a specific medical condition to be considered HSA eligible.
• Make sure to save your receipts for OTC drug purchases in case you are audited by the IRS.
• Some items that may seem like OTC drugs, such as vitamins and dietary supplements, are not typically considered HSA eligible.

By understanding what is and isn't HSA eligible when it comes to OTC drugs, you can make the most of your HSA funds and save money on healthcare expenses.

Yes, indeed! Over-the-counter (OTC) drugs are eligible for purchase with your Health Savings Account (HSA), allowing you to easily manage your healthcare costs.