Can HSA be Used for Lasik? Exploring the Use of Health Savings Account for Vision Correction

LASIK surgery is a popular vision correction procedure that many people consider to improve their eyesight and reduce dependence on glasses or contact lenses. One common question that arises is whether Health Savings Accounts (HSAs) can be used to pay for LASIK.

HSAs are tax-advantaged accounts that allow individuals to save money for qualified medical expenses. While LASIK is considered an elective procedure, it may still be eligible for HSA funds under specific circumstances.

According to the IRS, LASIK may be considered a qualified medical expense if it is done to treat a vision impairment that affects an individual's ability to perform their job or attend school. This means that if a doctor deems LASIK necessary for functional reasons, it could be eligible for HSA reimbursement.

It's essential to keep in mind that not all vision correction procedures are eligible for HSA funds. Procedures done solely for cosmetic reasons, such as enhancing eye color or reducing the need for reading glasses, would not qualify for HSA reimbursement.

Before using your HSA funds for LASIK, it's crucial to consult with your eye care provider and tax advisor to ensure that the procedure meets the necessary criteria for HSA eligibility. Additionally, you should keep detailed records and receipts to substantiate the expense.

If you're considering LASIK surgery, you might be wondering how to finance it, especially if you have a Health Savings Account (HSA). The great news is that HSAs offer a tax-advantaged way to save for medical expenses, including certain vision correction procedures like LASIK.