Understanding Whose Qualified Medical Expenses Carl Can Include for HSA Purposes

When it comes to Health Savings Accounts (HSAs), it's essential to understand whose qualified medical expenses can be included for HSA purposes. HSAs are tax-advantaged accounts that allow individuals to save for qualified medical expenses.

Carl, like any other HSA account holder, can include the following individuals' qualified medical expenses for HSA purposes:

• Himself
• His spouse
• Dependents claimed on his tax return
• Any other person Carl could have claimed as a dependent on his tax return but didn't

Qualified medical expenses that can be included for HSA purposes typically cover a wide range of healthcare services and products, including:

• Doctor visits
• Prescription medications
• Hospital stays
• Dental and vision care
• Mental health services
• And more

It's important to note that not all medical expenses are considered qualified for HSA purposes. Expenses such as cosmetic procedures, over-the-counter medications without a prescription, and health club dues do not typically qualify.

Understanding Health Savings Accounts (HSAs) is key for making the most out of your investments in health. For Carl, he can account for his own qualified medical expenses as well as those of his family members, making it a great tool for managing health care costs.