What Can I Buy with My HSA Funds? - Understanding HSA Eligible Expenses

One common question that arises for individuals with Health Savings Accounts (HSAs) is: 'What can I buy with my HSA funds?' Having an HSA is a great way to save for healthcare expenses, but it's important to know what items and services qualify as eligible expenses.

Here are some common things you can purchase with your HSA funds:

• Prescription medications
• Doctor's visits
• Dental care
• Vision care (including glasses and contact lenses)
• Medical equipment (such as crutches or blood pressure monitors)
• Mental health services
• Chiropractic care
• Physical therapy
• Acupuncture
• Smoking cessation programs

It's important to keep in mind that not all healthcare expenses are eligible for HSA reimbursement. Items such as cosmetic surgeries, over-the-counter medications (without a prescription), and gym memberships are generally not considered eligible expenses.

When using your HSA funds for eligible expenses, it's a good idea to keep records of your purchases in case of an audit. You can use your HSA debit card or reimburse yourself from the account for expenses you've paid out of pocket.

By understanding what you can buy with your HSA funds, you can make the most of your account and ensure you're using it for qualified healthcare expenses.

When considering your Health Savings Account (HSA) funds, it's essential to know the wide range of eligible expenses that can help you manage your healthcare costs effectively. From routine doctor's visits to dental care, using your HSA wisely can save you money while keeping you healthy.