![]() Psychiatric care: Your HSA can be used to pay for psychiatric care. Keep in mind that over-the-counter medications bought without a prescription (e.g. Prescription drugs: The cost of medication prescribed by your healthcare provider is a qualified HSA expense. Sports safety guards are not eligible if they’re not related to a medical or dental condition. Mouth guards: A mouth guard is HSA-eligible if your dentist recommends it to prevent teeth grinding. ![]() Medical alert bracelet: Do you use a medical bracelet or necklace to manage a condition like diabetes or heart disease? Pay for it with your HSA! Lab tests: When you head to the lab to get bloodwork done, be sure to bring your HSA card. Hearing aids: Use your HSA to cover hearing aid costs, including hearing aid batteries. Eyewear (including reading glasses, sunglasses, and contact lenses) is also eligible as long as you have a prescription for vision correction.įertility treatment : If you are actively trying to conceive, any costs related to egg/sperm retrieval, IVF, ovulation kits, and other infertility treatments are HSA-eligible. Cosmetic dental treatments (like whitening), as well as toothbrushes, are not eligible expenses.Įye exams, surgery, + contact lenses: HSAs can be used to pay for the cost of eye exams and LASIK surgery. You can also use your HSA to pay for transportation to/from local AA meetings.Ĭhiropractic care: Payments for a chiropractor’s services are HSA-eligible, as long as the treatment is used to manage a medical condition.ĭental treatment: You can use your HSA to cover the costs of dental care, including x-rays, fillings, fluoride treatments, and even braces. If you have an HSA, be sure to use it to help pay for expenses like:Īmbulance rides: When you’re billed a fee for using an ambulance, use your HSA to cover the expense.Īcupuncture: If your healthcare provider recommends acupuncture for treating a medical condition, you can use your HSA to pay for your appointment costs.Īlcoholism + drug treatment: Use your HSA to pay for addiction inpatient treatment at a therapeutic center, including meals and lodging offered by the center. Your HSA can also be used to pay for your family members’ health care this includes your spouse and your dependents. Generally, eligible medical expenses must alleviate or prevent illness and/or disability expenses that are simply beneficial to your overall well-being, like vitamins, are not eligible.įortunately, the IRS’s list of approved expenses is quite comprehensive, and covers most services by physicians, surgeons, specialists, and even dentists. They decide which medical expenses are eligible and which ones aren’t. You can quickly compare HSA-compatible and other health plans by entering your zip code below.īecause your HSA influences what you owe at tax time, it is regulated by the IRS. If that sounds like a good fit for you, consider choosing an HSA-compatible plan for 2022. HSAs are powerful financial tools because they help you prepare for medical expenses without having to pay taxes or interest on whatever cash you stow away. ![]() It is set up separately from your bank accounts–you’ll often even get a new debit card specifically tied to your HSA–and it can only be paired with certain high-deductible health plans. What Is an HSA?Ī health savings account (HSA) is a tax-free savings account used specifically for health-related expenses. You can use them to cover a wide variety of medical expenses, and they help you keep more of your earnings at tax time. If you have a high-deductible health plan, healthcare can get expensive fast that’s because you have to pay full price for medical costs until you hit your deductible (which, on average, is $8,000+ for a family!).
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