What Can I Buy with My HSA Account? A Comprehensive Guide

If you have a Health Savings Account (HSA), you may be wondering what you can purchase using the funds in your account. An HSA is a tax-advantaged account that allows individuals with high-deductible health plans to save for medical expenses. Here's a comprehensive guide on what you can buy with your HSA:

Qualified Medical Expenses:

You can use your HSA funds to pay for a wide range of medical expenses, including:

• Doctor's visits
• Prescriptions
• Dental care
• Vision care
• Medical equipment
• Hearing aids

Over-the-Counter (OTC) Medications:

Recent legislation has expanded the list of eligible expenses to include over-the-counter medications without a prescription. This means you can now use your HSA funds to purchase items like:

• Pain relievers
• Allergy medication
• Cough and cold remedies
• Menstrual care products

Other Eligible Items:

In addition to medical expenses, you can also use your HSA funds to pay for:

• Health insurance premiums (in certain cases)
• COBRA continuation coverage
• Long-term care insurance
• Acupuncture
• Chiropractic care

It's important to keep in mind that not all expenses are eligible for HSA reimbursement. It's always a good idea to check with your HSA provider or the IRS for a complete list of qualified expenses to ensure compliance.

If you have a Health Savings Account (HSA), knowing what you can purchase is essential for maximizing your funds. An HSA not only allows you to save for current medical expenses but also helps you prepare for future healthcare costs. Here’s a detailed look at the wide range of products and services you can cover.