Health Savings Account (HSA) dollars may be used for qualified medical expenses incurred by the account holder and dependents. According to IRS Section 213(d), “[an] expense has to be primarily for the prevention and alleviation of a physical or mental defect or illness.” In addition, COBRA premiums; health insurance premiums in conjunction with unemployment benefits; qualified long-term care premiums; and health insurance premiums paid by those over age 65 (other than for a Medicare supplemental policy) may be paid with HSA dollars.
Some examples of eligible expenses:
- Annual Physical Examination
- Birth Control
- Breast Pumps and Supplies
- Chiropractor
- Contacts
- Dental Treatment
- Eye exam and glasses
- Hospital Services
- Nursing Home
- Operations
- Psychologist and so much more….