What Insurance Expenses Can Be Paid with HSA?

Health Savings Accounts (HSAs) are a great tool for managing healthcare expenses, but many people are not aware of all the ways they can utilize their HSA funds. One common question that arises is, what insurance expenses can be paid with HSA?

Here's a breakdown of the insurance expenses that can typically be paid using your HSA:

• Premiums for health insurance
• Dental insurance premiums
• Vision insurance premiums
• Long-term care insurance premiums
• COBRA coverage premiums
• Medicare premiums (except for Medigap)
• Health coverage while receiving unemployment benefits
• Qualified long-term care services
• Expenses not covered by insurance

It's important to note that while these are generally eligible expenses, it's always a good idea to check with your HSA provider or tax advisor to ensure compliance with IRS regulations.

Did you know that your Health Savings Account (HSA) can cover a wide variety of insurance expenses? It’s true! Understanding what insurance expenses can be paid with an HSA is key to taking full advantage of this financial tool.