What can I buy with HSA 2020? A Comprehensive Guide

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Qualified 2020 HSA medical expenses

If you have a Health Savings Account (HSA), you might be wondering what expenses you can cover with it in 2020. An HSA is a tax-advantaged savings account specifically for medical expenses for those with high-deductible health plans. It's a great way to save and pay for qualified medical expenses. Here's a comprehensive guide on what you can buy with your HSA in 2020:

• Prescription medications
• Doctor's visits and copays
• Dental care including cleanings, fillings, braces, and more
• Eye care such as exams, glasses, contact lenses, and LASIK surgery
• Mental health services including therapy sessions
• Over-the-counter medications with a prescription
• Medical supplies like bandages, crutches, and more
• Chiropractic care for adjustments and treatments

Keep receipts for HSA tax purposes

Remember, it's important to keep all receipts and documentation for your HSA purchases for tax purposes. By using your HSA wisely, you can save money on medical expenses and plan for a healthier future.

HSA flexibility for doctor visits

Your Health Savings Account (HSA) is a powerful tool for managing healthcare costs. In 2020, you have the flexibility to use your HSA for a wide array of qualified medical expenses, including not just prescription medications, but also essential services like annual doctor visits and necessary copayments.