What Can You Buy with HSA? Exploring Purchases Eligible with Health Savings Accounts

Health Savings Accounts (HSAs) provide a tax-advantaged way for individuals to save and pay for qualified medical expenses. But what exactly can you buy with an HSA? Let's explore the range of purchases eligible with your HSA funds:

• Prescription medications
• Doctor's office visits and copayments
• Dental care, including cleanings, fillings, and braces
• Eye care, such as exams, glasses, and contact lenses
• Medical equipment like crutches, blood pressure monitors, and braces
• Therapy treatments, including physical, mental health, and substance abuse
• Over-the-counter medications with a prescription
• Laser eye surgery and other qualified vision correction procedures

These are just a few examples of the many eligible expenses you can cover with your HSA funds. Make sure to keep records and receipts for all purchases to verify their eligibility.

Health Savings Accounts (HSAs) allow for a practical approach to managing healthcare costs while reaping tax benefits. Understanding what can be purchased with HSA funds is essential. With your HSA, you can acquire a variety of essential goods and services, including:

• Prescription medications for treating various health conditions
• Doctor's office consultations and the associated copayments
• Dental procedures like regular cleanings, fillings, and even orthodontic treatments such as braces
• Eye care services, covering comprehensive exams, prescription glasses, and contact lenses
• Medical devices and equipment, including items like crutches, blood pressure monitors, and orthopedic braces
• Therapeutic treatments, which encompass physical therapy, mental health sessions, and substance abuse counseling
• Over-the-counter medications that require a doctor’s prescription to be eligible
• Laser vision correction surgeries, contributing to improved eyesight

It's crucial to keep detailed records and receipts for all HSA transactions to substantiate their eligibility, ensuring you maximize your savings while effectively managing your health.