What Can Be Paid by a Health Savings Account (HSA)?

Health Savings Accounts (HSAs) provide individuals with a unique way to save money for medical expenses while enjoying certain tax benefits. But what exactly can you pay for using the funds in your HSA?

Here are some of the common expenses that can be paid using a Health Savings Account:

• Doctor's visits and consultations
• Prescription medications
• Medical procedures and surgeries
• Dental treatment and orthodontia
• Eye exams, glasses, and contact lenses
• Acupuncture and chiropractic care

It's important to note that not all medical expenses are eligible for payment with HSA funds. To ensure compliance and avoid any penalties, always consult the IRS guidelines or speak with a qualified tax advisor.

Health Savings Accounts (HSAs) are a fantastic resource for individuals looking to manage their healthcare costs effectively. With an HSA, you can set aside pre-tax dollars for various medical expenses. But what specific expenses qualify for HSA payments?

Here’s a list of some common expenses you can pay using your HSA funds:

• Routine doctor's visits and specialist consultations
• Prescription medications that keep you healthy
• Medical procedures, surgeries, and hospital stays
• Comprehensive dental treatments, including orthodontics
• Eye care, including exams, glasses, and contact lenses
• Alternative therapies like acupuncture and chiropractic care

Be mindful that not all medical expenses are eligible for HSA reimbursement, so it's wise to review the IRS guidelines carefully or consult with a tax advisor.