What Can I Use HSA FSA For? Explained | HSA Awareness Article

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How HSAs and FSAs are used

If you're wondering what you can use an HSA or FSA for, you're in the right place. These accounts are designed to help you save money on healthcare expenses, but many people are unsure of what exactly they can use the funds for. Let's break it down:

Health Savings Account (HSA):

• Medical expenses not covered by insurance
• Prescription medications
• Doctor's visits and copays
• Dental and vision care
• Mental health services
• Medical equipment such as crutches or wheelchairs

HSA eligible expenses listed for you

Flexible Spending Account (FSA):

• Medical copays and deductibles
• Prescription medications
• Dental and vision care
• Over-the-counter medications with a doctor's prescription
• Medical supplies like bandages and first aid kits

It's important to note that both HSAs and FSAs have certain limitations on what expenses are eligible, so be sure to check with your account provider before making a purchase. By using these accounts wisely, you can save money on healthcare costs and take control of your financial wellness.

FSA eligible expenses and key reminders

If you're still wondering about using an HSA or FSA, let’s dive deeper into how these accounts can benefit you in managing your healthcare costs. Understanding what qualifies can truly empower you to save!

Health Savings Account (HSA):

• Medical expenses not covered by insurance, like alternative treatments or therapies
• Prescription medications, including preventive drugs
• Doctor's visits, including specialist consultations and copays
• Dental and vision care, covering services like braces or glasses
• Mental health services, such as therapy and counseling sessions
• Medical equipment, which can include items like crutches, wheelchairs, and other assistive devices

Flexible Spending Account (FSA):

• Medical copays and deductibles, which can add up quickly
• Prescription medications, ensuring you manage your ongoing health needs
• Dental and vision care, including check-ups and treatments
• Over-the-counter medications, with the necessary doctor's prescription
• Medical supplies like bandages, first aid kits, and even thermometers

Always keep in mind the eligibility criteria your account provider sets! Being informed can make a big impact on your financial wellness.