What Expenses Can Be Used for HSA? - A Comprehensive Guide

When it comes to using your Health Savings Account (HSA), there are a variety of expenses that are considered eligible for reimbursement. Understanding what expenses can be covered by your HSA funds can help you maximize the benefits of this tax-advantaged account. Here is a breakdown of common expenses that can be used for HSA:

• Medical services such as doctor's visits, surgeries, and diagnostic tests
• Prescription medications
• Dental treatments including cleanings, fillings, and braces
• Vision care like eye exams, glasses, and contact lenses
• Mental health services including therapy sessions and counseling
• Medical equipment such as crutches, wheelchairs, and blood pressure monitors
• Long-term care for chronic illnesses or disabilities
• Alternative treatments like acupuncture and chiropractic care
• Over-the-counter medications and supplies with a prescription
• Health insurance premiums if you are unemployed or 65 and older

Keep in mind that not all healthcare expenses are eligible for HSA reimbursement. It is essential to consult IRS publication 502 or your HSA provider for a comprehensive list of eligible expenses. By using your HSA funds for qualified medical expenses, you can enjoy tax savings and better manage your healthcare costs.

Health Savings Accounts (HSAs) provide an incredible opportunity to save money on healthcare expenses. Here's a quick reminder of what you can use your HSA funds for: medical services including doctor's visits, surgeries, and even laboratory tests are all covered.