What Qualifies as a HSA Expenditure?

Health Savings Accounts (HSAs) are a great way to save money for your medical expenses while enjoying tax benefits. But what exactly qualifies as an HSA expenditure? Understanding what expenses are eligible for HSA funds can help you maximize the benefits of your account. Here are some common expenses that qualify as HSA expenditures:

• Medical services (doctor visits, surgeries, lab tests, etc.)
• Prescription medications
• Medical equipment (crutches, wheelchairs, etc.)
• Dental treatments
• Vision care (glasses, contact lenses, eye exams, etc.)
• Mental health services
• Smoking cessation programs

It's important to note that not all healthcare expenses qualify as HSA expenditures. Non-eligible expenses include things like cosmetic procedures, over-the-counter medications (unless prescribed), and health club memberships. Keeping track of your eligible expenses and saving receipts can ensure smooth HSA fund usage.

Health Savings Accounts (HSAs) provide you with a unique opportunity to save for medical expenses while enjoying tax-free growth. Knowing what qualifies as an HSA expenditure can help you make the most out of your account. Some eligible expenses include routine medical services like doctor visits and surgeries, as well as prescription medications.