What Can Be Purchased Through a HSA Account?

A Health Savings Account (HSA) is a flexible and tax-advantaged savings account that allows individuals to save money for qualified medical expenses. One of the benefits of an HSA is the ability to use it to pay for a wide range of medical expenses. Here are some of the things that can be purchased through an HSA account:

• Prescription medications
• Doctor's visits and consultations
• Dental care, including cleanings, fillings, and orthodontics
• Eye exams and vision care, such as glasses and contact lenses
• Over-the-counter medications with a prescription
• Medical supplies and equipment, like bandages, crutches, and blood sugar monitors
• Mental health services, including therapy and counseling

It's important to note that not all medical expenses are eligible for HSA reimbursement. Non-qualified expenses may incur penalties and taxes if paid for with HSA funds. It's always best to check with your HSA provider or consult the IRS guidelines for a complete list of eligible expenses.

A Health Savings Account (HSA) is not only a flexible and tax-advantaged savings tool, but it also allows you to cover a significant range of qualified medical expenses, ensuring that you can manage your health costs effectively. You can purchase:

• Prescription medications to help manage your ongoing conditions
• Visits to your doctor for regular check-ups or health concerns
• Dental care that ranges from routine cleanings to necessary orthodontic work
• Eye care services like comprehensive eye exams, glasses, and contact lenses that can improve your vision
• Over-the-counter medications when supported by a prescription, broadening your purchasing capabilities
• Essential medical supplies such as bandages, crutches, and meters to monitor blood sugar levels
• Mental health support services, including therapy sessions, which can be vital for emotional well-being

Remember, it’s crucial to verify whether an expense qualifies for HSA reimbursement, as non-eligible purchases can lead to penalties and additional taxes when using HSA funds. Always refer to IRS guidelines or consult with your HSA provider for clarity on eligible expenses.