Can I use my HSA for over-the-counter medication 2021?
Asked by: Katrina Doyle | Last update: August 2, 2023Score: 4.2/5 (61 votes)
If you have a health savings account (HSA) or flexible spending account (FSA), you can now use those funds for several common over the counter (OTC) drugs, medicines, and products.
Can I buy OTC meds with HSA 2021?
Thanks to the Coronavirus Aid, Relief and Economic Security (CARES) Act, you can use your FSA or HSA funds to buy over-the-counter medications without a prescription, like Tylenol and other pain relievers, heartburn medications, allergy relief and more, for the first time since 2011.
Are OTC meds FSA eligible in 2021?
Over-the-counter medicines are now fully eligible with no restrictions for FSA and HSA users.
Can I use my HSA for over-the-counter medication 2020?
The same rules applied for flexible spending accounts (FSAs)—pre-tax financial accounts often offered by employers. 3 If you were experiencing heartburn, for example, you wouldn't be able to use your HSA money to cover an OTC drug like Tums or Prilosec. Instead, you'd have to pay for it out of pocket.
What can I use my HSA for 2021?
- Abortion.
- Acne laser treatment.
- Acupuncture.
- Ambulance fees and emergency care.
- Artificial limbs.
- Birth control pills, injections, and devices, such as IUDs.
- Blood pressure monitors.
- Body scans.
CARES Act - Over-the-counter Medication Expansion
What OTC meds are covered by HSA?
- Cold, cough, and flu medicine.
- Tampons, pads, and liners.
- Pain relievers and anti-inflammatory medications.
- Allergy and sinus medicine.
- Digestive aids and laxatives.
- Baby rash ointments and creams.
- Baby electrolytes.
- Sleep aids.
Can I use my HSA for vitamins?
Generally, weight-loss supplements, nutritional supplements, and vitamins are used for general health and are not qualified HSA expenses.
Can you use HSA for OTC meds 2022?
The Coronavirus Aid, Relief, and Economic Security (CARES) Act also added some other medical expenses to the list. The new items added were menstrual products and over-the-counter medications.
Is Tylenol HSA eligible?
There are two common types of over-the-counter pain medications: acetaminophen and nonsteroidal anti-inflammatory drugs (NSAIDs), both of which are now among the eligible expenses available from an HSA and FSA.
Can I buy ibuprofen with my HSA?
Yes, you can use your Health Savings Account (HSA) to purchase over-the-counter drugs without a prescription from your physician. Use your HSA for all Advil products.
Are OTC drugs covered by FSA in 2022?
What can I buy with my HSA or FSA in 2021-2022? The IRS expanded the list* to include OTC products such as pain reliever, face masks and cold and flu medicine.
Is Nyquil HSA eligible?
Cold medicine is an eligible over-the-counter (OTC) drug with a flexible spending account (FSA), health savings account (HSA) or a health reimbursement arrangement (HRA).
Are toothbrushes HSA eligible?
Toothbrushes are not eligible for reimbursement with flexible spending accounts (FSA), health savings accounts (HSA), health reimbursement accounts (HRA), dependent care flexible spending accounts and limited-purpose flexible spending accounts (LPFSA) because they are general health products.
Is Prilosec OTC HSA eligible?
Acid controllers such as Tums or Prilosec are OTC medicines that are eligible with an FSA account, HSA or HRA. Activated charcoal is not eligible.
Can you buy toilet paper with HSA?
On the counterpoint, let's take a quick look at some of the expenses that don't qualify for payment out of your HSA, even during the coronavirus pandemic: Babysitting and childcare costs for a normal, healthy child. Medicines and drugs from other countries. Personal care items like toilet paper and soap.
Are electric toothbrushes HSA eligible?
Electric toothbrushes are not eligible for reimbursement with flexible spending accounts (FSA), health savings accounts (HSA), health reimbursement accounts (HRA), dependent care flexible spending accounts, and limited-purpose flexible spending accounts (LPFSA) because they are general health products.
Is Benadryl HSA eligible?
Allergy products
Those who do have allergies can now find relief with their HSA and FSA funds in the form of over-the-counter antihistamines and decongestants.
Can I buy probiotics with HSA?
Probiotics: HSA Eligibility. Probiotics may be eligible with a Letter of Medical Necessity (LMN) with a flexible spending account (FSA), health savings account (HSA) or health reimbursement arrangement (HRA).
Can you buy medicine with HSA?
If you have a health savings account (HSA), you can use it to buy prescription medications. Also, with the new Coronavirus Aid, Relief, and Economic Security (CARES) Act, you can use your HSA funds to buy nonprescription over-the-counter (OTC) medications, including: Pain relievers, like aspirin, Tylenol, and Motrin.
Are vitamins HSA eligible 2022?
Q: Are vitamins HSA eligible in 2022? Vitamins and health supplements are HSA-qualified expenses if they have been recommended by a medical or health professional for the treatment or prevention of a specific disease or condition.
What can I use my HSA card for 2022?
- Abortion.
- Acupuncture.
- Ambulance fees.
- Artificial limbs and teeth.
- Bandages.
- Birth control pills.
- Body scans.
- Breast pumps and supplies.
Is over-the-counter medication a qualified medical expense?
In accordance with Section 9003 of the Affordable Care Act, only prescribed medicines or drugs (including over-the-counter medicines and drugs that are prescribed) and insulin (even if purchased without a prescription) will be considered qualifying medical expenses and subject to preferred tax treatment.
What supplements are HSA eligible?
Certain vitamins, such as glucosamine, chondroitin and prental vitamins are eligible for FSA, HSA and HRA reimbursement with no restrictions. From the IRS Publication 502: "You can't include in medical expenses the cost of nutritional supplements, vitamins, herbal supplements, "natural medicines," etc.
Is fish oil covered by HSA?
Fish oil supplements may be eligible with an LMN if used to treat a medical condition with a flexible spending account (FSA), health savings account (HSA), or a health reimbursement arrangement (HRA).
Can you buy shampoo with HSA?
While some exceptions may vary, shampoo is generally not eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA), limited-purpose flexible spending account (LPFSA) or a dependent care flexible spending account (DCFSA).