Have you asked yourself, “What exactly can my health savings account be used for?” The term “qualified expenses” can be vague, but is defined by the IRS to include medical care, prescription drugs, and payment for long term care. Let’s break it down.
HSA Resources explains in detail exactly what counts as a qualified expense in this extensive list. Some expenses to point out include:
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Ambulance
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Annual Physical
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Blood Tests
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Diabetic Supplies
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Diagnostic Devices
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Doctor’s Fees not covered by insurance
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Laboratory Fees
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Physical Examination
Utilizing your HSA funds is a resource that many people forget about. It helps you manage you and your family’s healthcare budget while taking control of your health.
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