What Medical Expenses are Covered by an FSA and HSA in 2019?

Health Savings Account (HSA) and Flexible Spending Account (FSA) are valuable tools that can help you save money on out-of-pocket medical expenses. These accounts allow you to set aside pre-tax funds to pay for qualified medical expenses, but what exactly is covered by an FSA and HSA in 2019?

Both FSA and HSA cover a wide range of medical expenses, including:

• Preventive care such as annual check-ups, vaccinations, and screenings
• Prescription medications
• Medical supplies like bandages, contact lenses, and hearing aid batteries
• Dental care like cleanings, fillings, and orthodontia
• Eye care including exams, glasses, and contact lenses
• Mental health services like therapy and counseling
• Specialized treatments such as acupuncture and chiropractic care

It's important to note that the list of eligible expenses may vary slightly between FSA and HSA accounts, so it's always a good idea to check with your plan administrator or review the IRS guidelines.

Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) are incredibly useful financial tools that enable you to save on medical expenses. In addition to covering preventive care, prescription medications, and medical supplies, these accounts can also be used for various alternative treatments and wellness services. Keeping track of what’s covered allows you to make the most of your healthcare dollars.