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What Can HSA Accounts Be Used for?

A health savings account (HSA) allows you to pay for medical expenses with pre-tax dollars. When you open an HSA, you can enjoy a tax deduction for the amount you invest. That helps lower your tax bill while at the same time giving you more control over your health care spending. Once the funds are in your HSA, you can use the money for a number of eligible expenses, including doctors' visits, prescription medications and vision care.

  1. Doctors' Visits

    • If the full cost of your doctor's visit is not covered by your insurance, you can pay the remainder with your HSA funds. The easiest way to pay your doctor out of your HSA fund is to give the front office your HSA debit card. This card works just like an ordinary debit card, except that it draws funds from your HSA instead of a checking or savings account.

    Prescription Medications

    • You can make the copay on any prescription drugs you pick up with your HSA account. You can also use your HSA funds to pay for prescription medications that are not covered by your health care plan. Simply hand your HSA debit card to the pharmacist when you pick up your medications. It is best to keep your medical and non-medical purchases separate, so pay for your prescriptions with the HSA card first then use another form of payment for any additional purchases in the pharmacy.

    Glasses and Contacts

    • You can use your HSA funds to purchase prescription eyewear, including both eyeglasses and contact lenses. You can also make the copayment for your eye exam out of your HSA account. However, you are not allowed to double-dip by paying for expenses that will later be reimbursed by your vision or health care plan. The purpose of the HSA account is to provide payment for expenses not covered by your health care plan.

    Dental Care

    • You can use the funds in your HSA to pay for dental expenses not covered by your medical insurance, such as fillings, cleanings, braces and dentures. After the service has been rendered, give the dental office your HSA debit card. The office staff will charge your card, and the service will be covered by the HSA.

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