What Can I Use My HSA For? A Comprehensive Guide to HSA Spending

Many people wonder about the various ways they can use their HSA to cover medical expenses. Here are some common uses for your HSA funds:

• Doctor visits
• Prescriptions
• Dental care
• Orthodontia
• Eye exams and glasses
• Hearing aids
• Physical therapy
• Mental health services
• Chiropractic care

In addition to these typical medical expenses, you can also use your HSA for certain non-medical expenses without penalty once you turn 65. These include:

• Long-term care insurance premiums
• Medicare premiums (except Medigap)
• COBRA premiums
• Health insurance premiums (when unemployed)
• Some home modifications for medical reasons

Your Health Savings Account (HSA) is not just a tool for saving money; it’s a gateway to managing your healthcare costs effectively. Here’s a detailed look at how you can wisely utilize your HSA funds for various medical expenses.

• Routine doctor visits are covered under HSA, making healthcare more accessible.
• Don’t forget to use your HSA for prescriptions, which can significantly lower out-of-pocket costs on your medications.
• Dental care is another vital use of HSA funds, including cleanings, fillings, and root canals.
• Orthodontic treatments for braces can also be financed through your HSA, benefiting both children and adults.
• Vision care, including eye exams, eyeglasses, and contact lenses, is eligible for HSA spending.
• Hearing aids are an essential expense that can be covered by your HSA, ensuring you stay connected to loved ones.
• Physical therapy sessions and rehabilitation services are vital for recovery and improvement, and your HSA can help cover these costs.
• Mental health services, including counseling and therapy sessions, are crucial for overall well-being and can be financed through your HSA.
• Chiropractic care is another avenue for HSA spending, providing relief from chronic pain.

Additionally, once you hit 65, your HSA opens up even more possibilities! You can spend your HSA funds on non-medical expenses without penalty, including:

• Long-term care insurance premiums to safeguard against future health issues.
• Medicare premiums (excluding Medigap), which can save you out-of-pocket expenses.
• COBRA premiums provide continued health coverage after leaving a job.
• If you find yourself unemployed, health insurance premiums can also be covered, providing much-needed support.
• For those needing modifications in their homes for medical reasons, certain expenses can be paid for with HSA funds.