What Can be Claimed for HSA Over-the-Counter Expenses?

Health Savings Accounts (HSAs) bring flexibility and control over healthcare expenses. When it comes to over-the-counter (OTC) expenses, there are specific guidelines to follow for claiming them with your HSA.

Here are the key points to consider:

• Eligible OTC Expenses:
• Medications - pain relievers, cold medicine, allergy relief, etc.
• Medical Supplies - bandages, first aid kits, thermometers, etc.
• Diagnostic Devices - blood pressure monitors, glucose meters, etc.
• Prescription Requirement: Some items need a prescription for reimbursement.
• Documentation: Keep receipts and prescriptions for verification.
• Non-Eligible Expenses:
• Items not for medical use.
• Cosmetic products.
• Current Regulations:
• Under the CARES Act, menstrual care products are eligible without a prescription.
• Review the latest IRS guidelines for updates.
• Flexibility: Use HSA funds for a range of eligible expenses.

Understanding what can be claimed for HSA over-the-counter expenses helps you maximize the benefits of your HSA for managing healthcare costs.




Health Savings Accounts (HSAs) provide you with unparalleled flexibility in managing your healthcare expenses. When claiming over-the-counter (OTC) expenses, it's essential to be aware of certain guidelines to ensure you're using your HSA funds correctly.

Here are the crucial points to remember:

• Eligible OTC Expenses:
• Medications - think pain relievers, cold medicine, or allergy remedies.
• Medical Supplies - such as band-aids, first aid kits, and thermometers.
• Diagnostic Devices - including essential items like blood pressure monitors and glucose meters.
• Prescription Requirement: Be cautious, as some OTC items necessitate a prescription for reimbursement.
• Documentation: Always keep your receipts and any prescriptions handy for verification to stay in compliance.
• Non-Eligible Expenses:
• Avoid claiming items not intended for medical use.
• Cosmetic products are also deemed ineligible.
• Current Regulations:
• Thanks to the CARES Act, products for menstrual care can be purchased without requiring a prescription.
• It's wise to keep an eye on the latest IRS guidelines for any updates that may affect your claims.
• Flexibility: HSAs offer the advantage of utilizing funds for a wide array of eligible health-related expenses.

By understanding what qualifies as claimable for HSA over-the-counter expenses, you will be able to make the most out of your HSA and save significantly on healthcare costs.