What is Eligible for HSA? Everything You Need to Know

When it comes to Health Savings Accounts (HSAs), knowing what expenses are eligible can save you time and money. Eligible expenses for HSA funds include a wide range of medical, dental, and vision services and supplies, making it a versatile tool for managing healthcare costs. Here's a closer look at what is considered eligible for HSA:

Eligible Expenses:

• Doctor visits and consultations
• Prescription medications
• Dental care, including cleanings, fillings, and orthodontics
• Hearing aids and batteries
• Laser eye surgery
• Mental health services
• Acupuncture

When in doubt about whether an expense qualifies for HSA funds, it's best to consult IRS guidelines or your HSA provider for clarification. Additionally, some expenses that are typically considered ineligible for HSA funds include cosmetics procedures, general health supplies, and non-prescription medications.

Health Savings Accounts (HSAs) not only help you save money on healthcare expenses, but they also offer excellent tax advantages. Many people are uncertain about what qualifies as an eligible HSA expense, so here’s a detailed list:

• General medical services, including routine doctor visits, surgeries, and diagnostic tests
• Prescription drugs that are prescribed by your healthcare professional
• Dental procedures such as cleanings, fillings, and extractions
• Vision-related expenses like eye exams, glasses, and contact lenses
• Mental health services, including therapy sessions and psychiatric care
• Medical supplies and equipment, such as crutches, wheelchairs, and breast pumps
• Physical therapy and rehabilitation services

Always double-check the IRS guidelines to confirm if an expense qualifies as HSA-eligible. This way, you can make the most out of your HSA and maximize your savings!