What Can All Be Deducted with an HSA Account?

Health Savings Account (HSA) is a great way to save for medical expenses while getting tax benefits. With an HSA account, you can deduct a wide range of medical expenses to help you save on taxes and manage your healthcare costs effectively.

Here are some of the expenses that can be deducted with an HSA account:

• Medical and dental expenses
• Prescription medications
• Medical supplies
• Doctor visits and co-pays
• Laboratory fees
• Hospital services
• Over-the-counter medications with a prescription
• Long-term care services
• Health insurance premiums (except for Medicare supplemental policies)

It's important to note that not all medical expenses are eligible for HSA deductions. Expenses like cosmetic procedures, vitamins and supplements without a medical diagnosis, and general health club dues are not deductible.

Did you know that a Health Savings Account (HSA) not only allows you to save for medical expenses but also offers significant tax benefits? With an HSA, you can deduct various medical expenses to help ease the financial burden of healthcare.