Understanding Therapy as a Qualified Medical Expense for HSA

When it comes to utilizing your HSA (Health Savings Account) for medical expenses, it’s important to understand what qualifies as therapy expenses. Therapy can be a crucial part of one’s healthcare journey, and knowing which therapies are considered eligible expenses can help you make the most of your HSA funds.

Therapy in the context of qualified medical expenses for HSA typically refers to treatments that are prescribed by a healthcare professional to treat a specific medical condition. Here are some common types of therapies that are usually considered eligible expenses:

• Physical therapy
• Occupational therapy
• Speech therapy
• Psychological therapy/counseling
• Chemotherapy
• Acupuncture

It’s important to note that not all types of therapy may qualify as eligible expenses for HSA funds. It is always recommended to consult IRS guidelines or your HSA provider to verify which specific therapies are covered under your plan.

Understanding which therapies qualify as eligible expenses can maximize your health savings. It's crucial to consider the guidelines that define what constitutes qualified medical expenses when it comes to using your HSA.