What Can You Pay for from a HSA Account?

Health Savings Accounts (HSAs) are a valuable financial tool that can help individuals save money for medical expenses. These accounts offer tax advantages and flexibility in how funds can be used. So, what exactly can you pay for from a HSA account?

Here are some common expenses that you can pay for using funds from your HSA:

• Doctor's visits
• Prescription medications
• Dental treatments
• Vision care (including glasses and contact lenses)
• Mental health services
• Physical therapy
• Chiropractic care
• Over-the-counter medications (with a prescription)
• Medical equipment and supplies
• And more!

It's important to note that not all medical expenses are eligible for payment from a HSA. Non-qualified expenses may incur penalties if funds are used for them. Be sure to check with your HSA provider or refer to the IRS guidelines for a comprehensive list of eligible expenses.

Health Savings Accounts (HSAs) are an incredible way to put money aside for medical expenses, combining savings benefits with tax perks. But what can you actually pay for using your HSA? Let’s break it down!

From essential doctor’s visits to unexpected emergencies, a wide range of expenses can be covered by your HSA:

• Doctor’s visits for regular check-ups or specialist consultations
• Prescription medications that keep you or your family healthy
• Dentist bills for cleanings, fillings, and other dental work
• Vision care, including not just glasses but also contact lenses
• Mental health services like therapy sessions
• Physical therapy treatments after an injury
• Chiropractic care for issues related to back pain
• Over-the-counter medications when they are prescribed
• Medical equipment such as crutches, bandages, or glucose monitors
• And much more, including necessary preventative care!

However, it’s crucial to keep in mind that some expenses are not eligible for payment through an HSA. Always double-check with your HSA provider or refer to IRS guidelines to avoid any penalties.