Can I Use My 2018 HSA for Over the Counter Medicine?

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2018 HSA OTC medicine requirements

If you are wondering whether you can use your 2018 HSA for over the counter medicine, the answer is yes, but with some conditions. Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. Here are some important points to consider:

Using Your 2018 HSA for Over the Counter Medicine:

• Under the Affordable Care Act, over the counter medicine is only eligible for reimbursement if you have a prescription from your doctor.
• You can use your HSA funds to pay for over the counter medicine if you have a prescription dated before January 1, 2011.

It's essential to keep records of your prescriptions and expenses to ensure compliance with HSA rules. While over the counter medicines are generally not allowed, there are exceptions. Make sure to check with your HSA provider for specific guidelines.

Yes, you can use your 2018 HSA for over the counter medicine, but remember to have your doctor's prescription, as per the Affordable Care Act's rules.