What Can You Use HSA For? A Comprehensive Guide

Health Savings Accounts (HSAs) are a valuable tool that can help you save money on healthcare expenses while offering tax advantages. But do you know what you can use your HSA for?

Here are some of the expenses you can use your HSA funds for:

• Medical expenses including doctor visits, prescriptions, and medical procedures
• Dental care such as cleanings, fillings, braces, and dentures
• Vision care including eye exams, glasses, contact lenses, and Lasik surgery
• Mental health services like therapy and counseling
• Certain over-the-counter items such as bandages, crutches, and pregnancy tests with a prescription
• Long-term care services and insurance premiums

Keep in mind that it's important to use your HSA funds for qualified medical expenses to avoid penalties. Be sure to save your receipts and documentation for any expenses you use your HSA funds for.

Health Savings Accounts (HSAs) can be a game-changer for managing your healthcare costs, allowing you to set aside pre-tax dollars for a wide array of medical expenses. But understanding what qualifies can optimize your savings.

Some common expenses include:

• Routine medical check-ups and emergency visits to your doctor.
• Prescription medications and necessary medical devices like insulin pumps.
• Dental treatments, from routine cleanings to orthodontic work, which can be costly without insurance.
• Vision-related expenses including prescription glasses and contact lenses that can improve your daily life.
• Mental health services covering therapy sessions that help support your emotional well-being.
• Over-the-counter medical supplies such as first aid kits, bandages, and even pregnancy tests if prescribed.
• Expenses tied to long-term care, ensuring that you are prepared for future health challenges.

Using your HSA funds for qualified medical expenses will keep you on the right side of tax regulations, so hang onto those receipts!