Who Can I Use HSA Funds For? Understanding HSA Eligible Expenses

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare expenses while enjoying tax benefits. One common question that individuals have is, 'Who can I use HSA funds for?' Let's explore the eligible expenses that you can use your HSA funds for:

Eligible Expenses for HSA Funds:

Here is who you can use HSA funds for:

• Medical Services: Doctor visits, surgeries, lab tests, and other medical treatments
• Prescriptions: Medications prescribed by a healthcare provider
• Dental Care: Including cleanings, fillings, braces, and more
• Vision Care: Eye exams, glasses, contact lenses, and laser eye surgery
• Mental Health Services: Therapy sessions, counseling, and treatment
• Preventive Care: Vaccines, screenings, and annual check-ups

Remember that HSA funds can only be used for qualified medical expenses as defined by the IRS. Using your HSA funds for non-qualified expenses may result in penalties and tax implications.

Health Savings Accounts (HSAs) are not only a smart way to save for medical expenses but also a means to gain tax advantages. It's essential to know who can benefit from HSA funds. From doctor's visits to preventive care, let's look at what qualifies:

• Medical Expenses: This includes consultations, surgeries, and various treatments that keep us healthy.
• Prescription Medications: Any medications your healthcare provider prescribes are eligible for payment through your HSA.
• Dental Services: Use HSA funds for routine cleanings, fillings, and even orthodontics like braces.
• Vision Care: Eye exams, prescription glasses, contact lenses, and surgical procedures like LASIK are covered under HSA.
• Mental Health Support: Whether it's therapy, counseling, or mental health treatments, these expenses are qualified too.
• Preventive Healthcare: Regular vaccinations, screenings, and check-ups help you stay healthy and are eligible expenses!