What Can I Use My HSA Dollars For? | Understanding HSA Spending Eligibility

Health Savings Accounts (HSAs) are excellent tools for saving money for medical expenses while enjoying tax benefits. But a common question among HSA users is, 'What can I use my HSA dollars for?'

Here's a detailed breakdown of what you can use your HSA funds for:

• Qualified Medical Expenses: This includes a wide range of medical, dental, and vision expenses such as doctor visits, prescription medications, hospital fees, and much more.
• Preventive Care: Many preventive services like annual check-ups, vaccinations, and screenings are also covered by HSA funds.
• Prescription Medications: Any prescription drugs prescribed by a healthcare professional are eligible for HSA reimbursement.
• Dental and Vision Care: Expenses related to dental treatments, eye exams, glasses, contact lenses, and even laser eye surgery can be paid for with HSA funds.

Additionally, you can also use your HSA funds for:

• Chiropractic care
• Mental health therapy
• Physical therapy
• Acupuncture
• Smoking cessation programs
• Long-term care services

It's important to note that non-medical expenses are not eligible for HSA reimbursement. Using HSA funds for non-qualified expenses may result in penalties and taxes.

Health Savings Accounts (HSAs) serve as a smart way to save funds for your healthcare needs while also providing attractive tax advantages. So, what can you actually spend your HSA dollars on? Let's break it down.

Qualified Medical Expenses: You can use your HSA dollars for a wide variety of health-related expenses, including doctor visits, hospital stays, dental treatments, and vision care, encompassing both exams and corrective eye surgeries.

Preventive Care: Forget about the worrying; HSA funds can cover essential preventive care measures. That means routine screenings, vaccinations, and annual check-ups are all on the table.

Prescription Medications: Prescriptions designed by trained healthcare professionals can be fully reimbursed through your HSA, providing you with easier access to necessary medications.

Dental and Vision Care: Your smile and sight can also be supported; expenses associated with dental work, eye exams, glasses, and contact lenses are all eligible for payment from your HSA.