What are Things Approved by HSA? Learn About Eligible Expenses

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. But what exactly are the things approved by HSA funds? Let's dive into it!

Here are some common expenses that are approved by HSAs:

• Prescription medications
• Doctor's visits
• Dental treatments
• Eye care (including eyeglasses and contacts)
• Physical therapy
• Mental health services
• Medical equipment and supplies

Additionally, here are some lesser-known but still eligible expenses:

• Acupuncture
• Chiropractic care
• Smoking cessation programs
• Weight loss programs (if recommended by a doctor)
• Travel costs for medical care

It's important to keep in mind that to use your HSA funds for any expenses, they must be considered qualified medical expenses by the IRS. You can check the IRS Publication 502 for a detailed list of what is covered.

Health Savings Accounts (HSAs) are an incredible way to put money aside for medical expenses while reaping substantial tax benefits. But what can you actually use your HSA funds on? Let's explore the approved expenses!

Commonly approved expenses include:

• Prescription medications that help manage your health
• Regular visits to your healthcare provider
• Dental procedures, including cleanings and treatments
• Vision care, such as eyeglasses and contact lenses
• Physical therapy sessions to aid recovery
• Counseling and mental health services
• Necessary medical equipment and supplies like crutches and bandages

Beyond these, you may be surprised to discover some less obvious approved expenses:

• Acupuncture sessions for pain relief and overall wellness
• Chiropractic treatments for spinal health
• Programs to help quit smoking
• Weight loss programs, but only if they are recommended by a physician
• Travel expenses incurred for obtaining medical care

Remember that for any expense to be eligible, it needs to be deemed a qualified medical expense per IRS guidelines. To get the full scoop, refer to IRS Publication 502, which lists all qualifying items.