What Expenses Can be Paid with HSA Funds 2018 .gov?

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What HSA funds cover as of 2018

Health Savings Accounts (HSAs) offer a tax-advantaged way to save and pay for medical expenses. When it comes to utilizing your HSA funds, understanding what expenses can be paid with them is crucial. As of 2018, the following expenses can be paid with HSA funds:

• Doctor's visits, including specialists
• Prescription medications
• Medical equipment
• Dental care
• Eye care (glasses, contacts, exams)
• Mental health services
• Chiropractic care

Additional covered medical costs and rules

It's essential to note that eligible expenses may vary, and some items may require a prescription to be eligible for HSA funds. Additionally, expenses incurred before opening the HSA are not eligible for reimbursement.

Ensuring that you are using your HSA funds for qualified medical expenses can help you maximize the benefits of your account while staying compliant with IRS regulations.

Health Savings Accounts (HSAs) provide a fantastic opportunity to save on taxes while managing your healthcare expenses. As of 2018, you can use your HSA funds to pay for a wide range of medical costs including:

• Regular doctor's visits, including consultations with specialists to address specific health issues.
• Prescription medications that are necessary for managing your health conditions.
• Medical equipment such as crutches, wheelchairs, or other medically necessary devices.
• Dental expenses like routine check-ups, fillings, and procedures to maintain oral health.
• Eye care expenses including corrective glasses, contact lenses, and eye exams to ensure your vision stays sharp.
• Mental health services, which encompass therapy sessions and counseling for emotional well-being.
• Chiropractic care that aids in treating musculoskeletal issues.

It’s important to understand that some expenses may require a doctor's recommendation or prescription for HSA reimbursement, so always keep your documentation handy. Moreover, any expenses you incur prior to the establishment of your HSA cannot be reimbursed.