Is Contact Lens Solution HSA Eligible in 2017?

When it comes to managing your health savings account (HSA), it's important to know which expenses are considered eligible for reimbursement. One common question that arises is whether contact lens solution is HSA eligible in 2017.

As of 2017, contact lens solution is typically considered an eligible expense under an HSA as long as it is prescribed by a qualified medical professional for the treatment of a specific eye condition. Here are a few key points to keep in mind:

• Contact lens solution can be reimbursed through your HSA if it is used to clean, disinfect, and store your contact lenses.
• Make sure to keep a copy of the prescription or a letter of medical necessity from your eye doctor for documentation purposes.
• If you choose to purchase contact lens solution over-the-counter without a prescription, it may not be HSA eligible unless it is specifically prescribed by a healthcare provider.
• Always check with your HSA provider or refer to the IRS guidelines for the most up-to-date information on eligible expenses.

It's important to note that HSA regulations may vary, so it's recommended to consult with a tax professional or your HSA administrator for specific guidance tailored to your situation.

Understanding which expenses can be reimbursed through your health savings account (HSA) is crucial for maximizing your benefits. A frequent inquiry is whether contact lens solution qualifies as an HSA-eligible expense as of 2017.

Typically, as of 2017, contact lens solution is eligible if prescribed by a healthcare professional for a specific eye condition. Here are some essential points to consider:

• Contact lens solution used for cleaning, disinfecting, and storing your lenses can be reimbursed through your HSA.
• Preserving documentation like a prescription or a letter of medical necessity from your eye doctor is important for verification.
• Purchasing contact lens solution over-the-counter without a prescription may not qualify for HSA reimbursement unless it’s directed by a healthcare provider.
• Be sure to consult your HSA provider or IRS guidelines to stay updated on eligible expenses.

It's worth noting that regulations regarding HSAs can differ, so consulting a tax professional or your HSA administrator can provide tailored advice.