What is Covered Under HSA? - Understanding Health Savings Accounts

Health Savings Accounts (HSAs) are a great way for individuals to save for medical expenses while enjoying tax benefits. But what exactly is covered under HSA?

Here's a breakdown of what you can use your HSA funds for:

• Doctor's visits
• Prescription medications
• Dental care
• Vision care
• Medical tests and screenings
• Hospital stays

It's important to note that not all medical expenses may be covered under HSA. Non-qualified expenses could incur penalties, so it's essential to understand what is eligible.

Health Savings Accounts (HSAs) are an excellent option for individuals looking to save money for future medical expenses while enjoying significant tax advantages. But what are the specific items you can use your HSA funds for? Let’s explore!

HSAs can be used for a variety of healthcare costs, including:

• Doctor's visits, including specialists
• Prescription medications that require a copayment
• Dental care, such as orthodontics and cleanings
• Vision care, including glasses and contact lenses
• Medical tests and screenings, such as blood tests and X-rays
• Hospital stays, including emergency room visits

Always keep in mind that while HSAs provide incredible flexibility, not all items or services qualify. Non-qualified expenses may lead to penalties, so ensure you know what expenses are eligible for HSA funding.