Can You Buy Over the Counter Medication with HSA? - Everything You Need to Know

Health Savings Accounts (HSAs) offer a convenient way to save and pay for medical expenses. One common question many people have is whether they can use their HSA funds to purchase over-the-counter medications.

Over-the-counter medications are non-prescription drugs that you can buy without a doctor's prescription. The good news is that, in most cases, you can use your HSA to purchase over-the-counter medications.

However, there are a few important things to keep in mind when using your HSA to buy over-the-counter medications:

• Make sure the medication is eligible - Not all over-the-counter medications are HSA-eligible. Examples of eligible expenses include pain relievers, allergy medications, and first aid supplies.
• Save your receipts - It's crucial to keep your receipts for over-the-counter medication purchases in case you need to provide documentation or be audited.
• Consult your HSA provider - If you're unsure whether a specific over-the-counter medication is eligible, it's a good idea to check with your HSA provider.

Overall, utilizing your HSA funds for over-the-counter medications can be a convenient and cost-effective way to manage your health and wellness expenses. Just be sure to follow the guidelines and keep track of your purchases for record-keeping purposes.

Did you know that Health Savings Accounts (HSAs) are not just for regular medical expenses? One frequently asked question is whether you can use these funds to buy over-the-counter medications. The answer is a resounding yes! This flexibility makes HSAs a smart choice for managing healthcare costs.