What Can You Use Your HSA Funds For? - Understanding HSA Eligible Expenses

When it comes to Health Savings Accounts (HSAs), it's important to know what expenses you can use your HSA funds for. HSAs offer a tax-advantaged way to save and pay for qualified medical expenses. Here are some common expenses that you can use your HSA funds for:

• Doctor's visits
• Prescription medications
• Medical procedures
• Dental treatments
• Vision care, including eyeglasses and contact lenses
• Mental health services
• Medical equipment such as crutches or wheelchairs

It's worth noting that not all medical expenses are eligible for HSA funds. Here are some expenses that are typically not considered HSA-eligible:

• Cosmetic procedures
• Health club dues
• OTC medications without a prescription
• Non-medical expenses

Understanding what you can and cannot use your HSA funds for is essential to maximizing the benefits of your account. Be sure to keep detailed records and receipts of your expenses to ensure compliance with IRS regulations.

When managing your Health Savings Account (HSA), it's crucial to be informed about what expenses are eligible for reimbursement. HSAs are a great way to save money for healthcare costs that can be burdensome. Common expenses that you can pay for using your HSA funds include visits to the doctor, prescription medications, various medical procedures, and even dental care costs.