What Can You Purchase with HSA? A Comprehensive Guide

As you navigate the world of healthcare options, you may have heard of Health Savings Accounts (HSAs) and wonder what exactly you can purchase with them. HSAs are a great tool for managing medical expenses, allowing you to save money tax-free for qualified medical costs. So, what can you spend your HSA funds on?

Here are some common expenses that you can purchase with your HSA:

• Prescription medications
• Doctor visits and medical consultations
• Dental care, including cleanings, fillings, and orthodontia
• Vision care, such as eye exams, glasses, and contact lenses
• Medical equipment like crutches, blood pressure monitors, and wheelchairs

In addition to these standard medical expenses, there are some surprising items you may not be aware you can buy with your HSA:

• Sunscreen with SPF 30+
• Acne treatments
• First aid supplies like bandages, antiseptics, and hot/cold packs
• Chiropractic care
• Weight loss programs, if recommended by a doctor to treat a specific medical condition

It's essential to keep in mind that not all items are eligible for HSA reimbursement. Some expenses that are generally not covered by HSA funds include:

• Cosmetic procedures
• OTC medications without a prescription
• Gym memberships or fitness equipment
• Non-medical massage therapy
• Alternative therapies like acupuncture or aromatherapy

Remember to keep receipts and documentation for all your HSA purchases to substantiate their eligibility. Understanding what you can and cannot buy with your HSA can help you make the most of this valuable resource for managing your healthcare expenses.

Health Savings Accounts (HSAs) are a fantastic way to set aside money for your healthcare needs, allowing tax-free withdrawals for qualified expenses. But which specific purchases can you make with these funds?

You'll likely find that HSAs cover a multitude of essential medical costs, including:

• Prescription medications for ongoing health issues
• Routine doctor visits for consultations or exams
• Dental care such as cleanings, fillings, and orthodontic treatments
• Vision care, encompassing eye exams, contact lenses, and glasses
• Necessary medical equipment like crutches or wheelchairs

Beyond the typical expenses, HSAs can cover some surprising items that might not be on your radar:

• Protective sunscreen featuring SPF 30 and higher
• Acne treatments that align with your skincare regime
• First aid supplies, including band-aids and antiseptics
• Chiropractic services for back pain relief
• Weight loss programs prescribed by your physician for medical weight management

However, it's essential to be cautious, as not all expenses are eligible for HSA reimbursement. Generally ineligible items include:

• Cosmetic enhancements or elective surgeries
• Over-the-counter medications without a physician's prescription
• Membership fees for gym access or fitness equipment
• Massage therapies not related to a medical condition
• Alternative treatments like acupuncture that lack a strong medical recommendation

Be sure to save your receipts and maintain thorough documentation for everything you purchase with your HSA. Knowing the ins and outs of your HSA can empower you to maximize your healthcare savings.