If you're wondering whether you can use your Health Savings Account (HSA) for over-the-counter medications, the answer is yes, but with some caveats. As of 2020, the CARES Act reinstated the ability to use HSA funds for over-the-counter medications without a prescription. However, there are some guidelines you need to keep in mind. Here's what you need to know: - Over-the-counter medications must be used to treat a specific medical condition to be considered an eligible expense. - You can use your HSA funds for a wide range of over-the-counter medications such as pain relievers, cold and flu remedies, allergy medications, and more. - It's always a good idea to keep your receipts and documentation in case you need to prove that the over-the-counter medications were for a qualified medical expense. It's important to consult with your healthcare provider or tax advisor if you have any doubts about what qualifies as an eligible expense. Using your HSA for over-the-counter medications can be a convenient way to manage your healthcare expenses, but understanding the rules is key to making the most of your HSA benefits.

If you're curious about using your Health Savings Account (HSA) for over-the-counter medications, you'll be pleased to know that, thanks to the CARES Act effective from 2020, it's now possible without needing a prescription!