What Medical Expenses Can Be Paid by HSA?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while also enjoying tax benefits. But what exactly can you use your HSA funds for?

Here are some of the medical expenses that can be paid for using your HSA:

• Doctor visits and consultations
• Medical procedures and surgeries
• Prescription medications
• Dental treatments
• Eye care, including vision exams and glasses/contact lenses
• Mental health counseling
• Physical therapy
• Medical equipment and supplies
• Health insurance premiums (in certain cases)

It's important to note that not all medical expenses are eligible for payment with your HSA funds. Expenses such as cosmetic procedures, over-the-counter medications without a prescription, and health club dues are generally not considered eligible expenses.

By using your HSA wisely and understanding which expenses are eligible, you can make the most of your healthcare savings account.

Health Savings Accounts (HSAs) offer an excellent way to prepare for medical costs, while providing significant tax advantages. Curious about what you can purchase with your HSA funds? You're in the right place!

Here's a breakdown of the medical expenses you can cover using your HSA:

• Routine check-ups with your doctor
• Emergency medical procedures and surgical interventions
• Medications prescribed by your healthcare professional
• Dental work, including cleanings and orthodontics
• Vision care services, including eye exams, prescription glasses, and contact lenses
• Therapeutic counseling for mental wellness
• Rehabilitation through physical therapy
• Durable medical equipment like crutches, wheelchairs, and more
• Health insurance premiums, under specific circumstances

While HSAs are a great tool for managing healthcare costs, be aware that certain expenses don’t qualify for reimbursement. For example, cosmetic surgeries and over-the-counter medications that lack a prescription are not eligible. Understanding these nuances allows you to maximize your HSA benefits effectively.