What Can Be Paid From an HSA?

Health Savings Accounts (HSAs) are a valuable tool for saving money on healthcare expenses while enjoying tax benefits. But many people are still unsure about what expenses they can pay for using their HSA funds. So, what can be paid from an HSA?

Here's a comprehensive list of expenses that can be paid from an HSA:

• Prescription medications
• Doctor's visits and co-pays
• Medical procedures and surgeries
• Dental treatments
• Eye exams and glasses/contact lenses
• Mental health counseling
• Physical therapy
• Chiropractic care
• Acupuncture
• Smoking cessation programs

Additionally, HSA funds can also be used to pay for certain over-the-counter items if prescribed by a healthcare provider, such as:

• Allergy medication
• Pain relievers
• First-aid supplies
• Menstrual care products

It's important to note that not all healthcare expenses are eligible for payment from an HSA. Expenses such as cosmetic procedures, health club dues, and over-the-counter items not prescribed by a doctor are generally not eligible.

By using your HSA funds wisely on eligible expenses, you can save money on healthcare costs and maximize the benefits of your account.

Did you know that Health Savings Accounts (HSAs) not only help you save for your healthcare expenses but also offer significant tax deductions? Many individuals are left wondering what they can actually use these funds for. Let’s dive into the various expenses that qualify for HSA payments!

Below is a detailed list of expenses you can cover using your HSA:

• Prescription medications
• Routine doctor’s visits and associated co-pays
• Major medical procedures and surgeries
• Dental treatments like cleanings, fillings, or braces
• Vision care including eye exams and prescription glasses/contact lenses
• Mental health services such as counseling and therapy
• Physical rehabilitation treatments
• Chiropractic adjustments
• Alternative therapies such as acupuncture
• Programs to help quit smoking

Moreover, HSA funds can be utilized for certain over-the-counter (OTC) products, provided they come with a prescription from your healthcare provider:

• Medications for allergies
• Pain relief items
• First-aid kits and supplies
• Menstrual hygiene products

Remember, however, that not every healthcare expense qualifies. Cosmetic surgeries, gym memberships, and OTC items without a prescription are typically excluded from HSA payments. By strategically using your HSA funds on eligible costs, you not only manage your health better but also stretch your dollar further.