What Things Are Covered with an HSA?

Health Savings Accounts (HSAs) are a valuable financial tool that offer individuals the opportunity to save and pay for medical expenses with tax advantages. Understanding what is covered under an HSA is essential for maximizing its benefits and managing healthcare costs effectively.

Here are some of the key things that are covered with an HSA:

• Preventive Care: Many preventive services such as vaccinations, screenings, and annual check-ups are covered under an HSA without requiring a deductible.
• Medical Treatments: Any medical treatments deemed necessary by a healthcare professional are typically covered by an HSA.
• Prescription Medications: Prescription drugs prescribed by a doctor are usually eligible expenses under an HSA.
• Dental Care: HSA funds can be used for a variety of dental services including cleanings, fillings, and orthodontics.
• Vision Care: Eye exams, glasses, contact lenses, and other vision-related expenses are often covered by an HSA.
• Mental Health Services: Therapy sessions, counseling, and other mental health treatments may be eligible expenses under an HSA.
• Alternative Medicine: Some alternative treatments such as acupuncture or chiropractic care may also be covered under an HSA.

In addition to the above, it's important to note that HSA funds can be used to cover qualified medical expenses for yourself, your spouse, and your dependents.

Health Savings Accounts (HSAs) serve as a fantastic financial tool that not only encourages saving but also offers the flexibility to pay for various medical expenses while reaping tax benefits. It's crucial to familiarize yourself with the items covered under an HSA as it can significantly aid in minimizing healthcare costs over time.