HSA Guide
What Things Can You Purchase with an HSA HealthEquity?
Published October 10, 2024
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Get the appWhat HSA funds can cover
Health Savings Account (HSA) with HealthEquity is a great way to save for medical expenses while enjoying tax benefits. One common question people have is what they can purchase with their HSA funds. The good news is that there is a wide range of eligible expenses you can cover using your HSA funds.
Here are some things you can purchase with an HSA HealthEquity:
- Prescription medications
- Doctor's visits and medical consultations
- Dental care, including cleanings, fillings, and braces
- Eye care, such as exams, glasses, and contact lenses
- Medical equipment like blood pressure monitors, crutches, and wheelchairs
- Mental health therapy sessions
- Chiropractic services
- Acupuncture treatments
- Smoking cessation programs
- Weight loss programs for specific medical conditions
Which expenses are not eligible
It's important to note that not all medical expenses are eligible for HSA coverage. Non-eligible expenses include cosmetic procedures, gym memberships, and over-the-counter medications (unless prescribed by a doctor).
Keeping records and alternative treatments
By using your HSA funds wisely on eligible expenses, you can manage your healthcare costs effectively and save money in the long run. Remember to keep receipts and records of your purchases for tax purposes.
Using your Health Savings Account (HSA) with HealthEquity opens the door to a variety of healthcare purchases. Aside from common expenses, you can also use HSA funds for alternative treatments like naturopathy or even holistic services, providing comprehensive care for your health journey.