What Does it Mean When it Says HSA Eligible?

When you see the term 'HSA eligible,' it refers to items or services that are compatible with a Health Savings Account (HSA).

An HSA is a tax-advantaged savings account that individuals with high-deductible health plans can use to pay for qualified medical expenses. Understanding what items or services are HSA eligible is crucial to maximize the benefits of your account.

Items or services are considered HSA eligible if they meet the IRS criteria for qualified medical expenses. This typically includes expenses related to the diagnosis, cure, mitigation, treatment, or prevention of disease.

Examples of common HSA-eligible expenses include:

• Doctor's visits
• Prescription medications
• Laboratory fees
• X-rays
• Hospital services

It is important to note that not all medical expenses are HSA eligible. To avoid any penalties or tax implications, it's essential to verify the eligibility of expenses before using HSA funds to pay for them.

Seeing 'HSA eligible' means the product or service fits within the guidelines for spending from your Health Savings Account (HSA), designed to help you save more on qualified healthcare costs.