What Counts as a Qualifying Medical Expense for HSA?

Health Savings Accounts (HSAs) offer a tax-advantaged way to save for medical expenses, but what exactly counts as a qualifying medical expense for an HSA? Let's dive into some common examples:

• Doctor's visits and consultations
• Prescription medications
• Dental treatments like cleanings, braces, and fillings
• Eye care such as exams, glasses, and contact lenses
• Mental health services including therapy and counseling
• Medical devices like crutches, wheelchairs, and hearing aids
• Chiropractic care and acupuncture
• Laboratory fees and diagnostic tests

Remember, the key is that the expense must be primarily for the prevention or alleviation of a physical or mental defect or illness. It's always a good idea to check the IRS guidelines or consult with a financial advisor to ensure you're using your HSA funds appropriately.

When it comes to using your Health Savings Account (HSA), understanding the various expenses that qualify is crucial. Qualifying medical expenses can include doctor's visits, prescription medications, and even preventive care services that help keep you healthy.