What Expenses Does a Health Savings Account (HSA) Cover?

A Health Savings Account (HSA) is a valuable financial tool that offers individuals a way to save money for medical expenses on a pre-tax basis. Understanding what expenses an HSA can cover is crucial for making the most out of this healthcare benefit.

Here are some common expenses that an HSA can cover:

• Doctor visits and consultations
• Prescription medications
• Medical procedures and surgeries
• Hospital stays
• Dental care
• Eye exams and vision care
• Mental health services
• Physical therapy
• Medical equipment and supplies

Moreover, in addition to covering current medical expenses, funds in an HSA can also be used to save for future healthcare needs in retirement.

A Health Savings Account (HSA) is an amazing way to manage your healthcare costs effectively. With the power to save money for medical expenses tax-free, it's essential to know which expenses qualify. Here’s a quick list of expenses that you can pay for using your HSA:

• Visits to your primary care physician or specialists
• Medications that require a prescription
• Necessary medical procedures and surgeries
• Costs associated with hospitalizations
• Dental expenses, including cleanings and braces
• Regular eye exams, glasses, and contact lenses
• Therapeutic services for mental health, like counseling
• Rehabilitative therapies, such as physical therapy
• Medical devices like blood glucose monitors or crutches

Plus, saving with an HSA means you can put money aside for potential healthcare needs once retirement arrives.