What Expenses Can I Pay with My HSA? - A Comprehensive Guide

When it comes to your Health Savings Account (HSA), it's essential to understand the expenses you can pay for using this valuable financial tool.

Here's a breakdown of the expenses you can typically pay with your HSA:

• Medical and dental expenses
• Prescription medications
• Over-the-counter medications with a prescription
• Medical supplies and equipment
• Psychiatric care and therapy
• Vision care, including glasses and contacts
• Dental care, such as cleanings, fillings, and braces

It's important to note that not all expenses are eligible for HSA reimbursement. It's best to consult IRS guidelines or speak with a financial advisor to ensure you're using your HSA funds correctly.

Health Savings Accounts (HSAs) provide a fantastic way to manage your medical expenses while enjoying tax advantages. If you’re wondering how to best utilize your HSA funds, you’ll be pleased to know that there is a wide range of eligible expenses that can be covered. Here are some common medical costs you can pay for with your HSA:

• Routine doctor visits, including any associated copays
• Prescription drugs that your doctor prescribes
• Dental treatments, such as cleanings and fillings
• Vision care, including eye exams and glasses
• Medical supplies and equipment like crutches or bandages
• Therapeutic services such as mental health counseling
• Rehabilitative therapy like physical therapy sessions
• Laboratory tests and imaging services

Always remember, not every medical expense qualifies for HSA reimbursement. For peace of mind, refer to the IRS guidelines on allowable costs.