What Medical Expenses Can Be Paid Out of HSA? - Your Guide to HSA Eligible Expenses

Health Savings Accounts (HSAs) offer a great way to save for medical expenses while enjoying tax advantages. But what exactly can you pay for using your HSA funds? Let's explore the different types of medical expenses that are deemed eligible for HSA payments:

1. Qualified Medical Expenses: These include a wide range of healthcare services, treatments, and products that are considered necessary for your health. Some examples are doctor visits, prescription medications, medical supplies, and even some preventive care services.

2. Dental and Vision Care: Costs related to dental and vision care, such as check-ups, braces, glasses, and contact lenses, are typically eligible for HSA payments.

3. Some Over-the-Counter Items: While the rules have recently changed, certain over-the-counter items like pain relievers, cold medicine, and first aid supplies can still be paid for with HSA funds if they are prescribed by a healthcare provider.

4. Long-Term Care: Expenses for long-term care services for chronic illnesses or disabilities may also qualify for HSA payments.

Keep in mind that not all medical expenses are eligible for HSA payments. It's essential to review the IRS guidelines to ensure that you are using your HSA funds for qualified expenses.

Health Savings Accounts (HSAs) are not just a tax-saving tool; they're your ally in managing healthcare costs efficiently. They allow you to save money for qualified medical expenses, which can greatly alleviate financial stress. Eligible expenses include doctor visits, prescription medications, and a variety of medical supplies.