What is a Qualified Expense for HSA? - Understanding HSA Eligible Expenses

Health Savings Accounts (HSAs) are a great way to save money for medical expenses. But what exactly qualifies as a qualified expense for an HSA?

Qualified expenses for an HSA include:

• Doctor visits
• Prescriptions
• Dental care
• Eye care
• Medical equipment

Additionally, here are some more details about HSA eligible expenses:

• Over-the-counter medications require a prescription for reimbursement
• Long-term care services
• Health insurance premiums (except Medicare premiums)
• Transportation for medical care
• And more!

It's important to keep track of your expenses and make sure they qualify for HSA reimbursement. By understanding what is considered a qualified expense, you can make the most of your HSA funds.

Health Savings Accounts (HSAs) offer a fantastic opportunity to save for medical expenses while enjoying tax benefits. So, what constitutes a qualified expense for your HSA? Let's break it down!

Some common qualified expenses include:

• Visits to your primary doctor or specialists
• Prescription medications that you need
• Dental visits including cleanings and other treatments
• Eye exams, glasses, and contact lenses
• Purchase of necessary medical equipment like crutches or blood pressure monitors

Moreover, it's essential to note that:

• Over-the-counter medications must come with a prescription to be eligible for reimbursement
• Long-term care services can also be covered
• Health insurance premiums are eligible but Medicare premiums have exceptions
• Transportation costs for medical appointments can be reimbursed as well
• Always verify that your expenses align with HSA guidelines!