What is allowed on HSA card?

Asked by: Sabryna Quitzon  |  Last update: December 16, 2023
Score: 4.3/5 (62 votes)

These are the most common HSA-expensed items
  • Copays for prescriptions and office visits.
  • Crutches.
  • Dental care (See below)
  • Flu shots.
  • Hearing aids.
  • Prescription medications.
  • Vision care (See below)
  • Wheelchairs.

What can I put on my HSA card?

HSA - You can use your HSA to pay for eligible health care, dental, and vision expenses for yourself, your spouse, or eligible dependents (children, siblings, parents, and others who are considered an exemption under Section 152 of the tax code).

What can I not use my HSA card to buy?

Examples of no-nos from the IRS include vacations and vitamins. Other items that aren't eligible include maternity clothes, funeral costs, child care for healthy babies, toiletries, over-the-counter medicine, swimming lessons and elective cosmetic procedures.

Can I spend HSA money on anything?

If you have money in your HSA when you turn 65, you can spend it on anything you want — but if you aren't spending it for a qualified medical expense it will be taxed as income at your then current tax rate. You can use HSA funds to pay for deductibles, copayments, coinsurance, and other qualified medical expenses.

What are HSA restrictions?

2022 HSA contribution limits:

The maximum out-of-pocket is capped at $7,050. An individual with family coverage under a qualifying high-deductible health plan (deductible not less than $2,800) can contribute up to $7,300 — up $100 from 2021 — for the year.

What is a Health Savings Account? HSA Explained for Dummies

28 related questions found

Can HSA be used for dental?

You can also use HSAs to help pay for dental care. While dental insurance can help cover costs, an HSA can also help cover any out-of-pocket expenses resulting from dental care and procedures.

Can I get in trouble for using HSA money?

IRS penalty and taxable income

Prior to age 65, if you use your money for non-qualified expenses, the IRS imposes a hefty HSA withdrawal penalty of 20 percent on the amount withdrawn. For example, if you spend $500 on non-qualified expenses, your penalty will be $100.

Can I use HSA for groceries?

No, you can't use your Flexible Spending Account (FSA) or Health Savings Account (HSA) for straight food purchases like meat, produce and dairy. But you can use them for some nutrition-related products and services. To review, tax-advantaged accounts have regulatory restrictions on eligible products and services.

Can I buy vitamins with HSA?

With this IRS definition in mind, while daily multivitamins are not FSA/HSA eligible, there are some types of vitamins that are eligible with consumer-directed healthcare accounts and others that may be eligible with proper documentation from a physician.

Can I use HSA for shoes?

Health Savings Accounts (HSAs), and Flexible Spending Accounts (FSAs) can be great cost-savings tools. You can use them to reimburse yourself for eligible health care, medical aids, and even diabetic footwear or orthopedic shoes.

Can I buy toilet paper with my HSA card?

Toiletries are 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).

Can you buy toothpaste with HSA?

You can't use your HSA for common items such as toothpaste, dental floss, or over-the-counter mouthwash. Cosmetic procedures, such as teeth whitening, also aren't covered.

Can I buy tampons with HSA?

With the passage of the CARES Act in March 2020, tampons and other menstrual care products are now fully FSA-/HSA-eligible. According to the text of the bill, menstrual care products include, “tampon, pad, liner, cup, sponge, or similar product used by individuals with respect to menstruation…”

Can you use HSA at Costco?

Costco accepts a limited number of cards at the main checkout lanes, but they'll let you pay for eligible items with your HSA/FSA card at the Pharmacy or Optical counters. So to use your FSA or HSA cards at Costco, just bypass the regular checkout lines and visit the Pharmacy or Optical department instead.

Is Tylenol HSA-eligible?

Acetaminophen, the primary ingredient found in Tylenol, is an eligible OTC item. Acetaminophen reimbursement is eligible with an FSA account, HSA or HRA. Acne Medicine such as Clean and Clear, Neutrogena, Proactiv, etc., is eligible.

Can I use HSA to buy electric toothbrush?

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.

Can I buy a treadmill with my HSA?

A treadmill may be eligible for reimbursement with a Letter of Medical Necessity (LMN) with a flexible spending account (FSA), health savings account (HSA) and health reimbursement arrangement (HRA).

Can I use my HSA for gas?

Fuel is eligible for transportation to and from medical care, up to the allowed mileage rate. Fuel, gasoline for medical care reimbursement is eligible with a flexible spending account (FSA), health savings account (HSA) or a health reimbursement arrangement (HRA).

Can you use HSA for Apple Watch?

Unfortunately the answer to this question is usually no. This is because according to the IRS, fitness trackers are used to promote what the IRS terms “general health”. Expenses under this general health definition are not considered HSA eligible expenses.

Will HSA card work at ATM?

Can I use my HSA Bank Health Benefit Debit Card at an ATM? You can use your HSA card at an ATM to reimburse yourself for eligible expenses paid out-of-pocket. (A transaction fee may apply. See your HSA Bank Fee and Interest Rate Schedule.)

What happens if I buy something with my HSA for non medical expenses?

Question: What are the tax consequences of using an HSA to pay for non-medical expenses? Short Answer: Non-medical HSA distributions are subject to ordinary income tax at all ages, and they are also subject to a 20% additional tax for individuals who are under age 65.

What happens to leftover HSA money?

No. HSA money is yours to keep. Unlike a flexible spending account (FSA), unused money in your HSA isn't forfeited at the end of the year; it continues to grow, tax-deferred.

Should I max out my HSA?

Maxing out your HSA each year easily allows your funds to grow over time. Unlike regular savings accounts, an HSA allows you to invest funds in stocks, bonds, and mutual funds.

Is shampoo HSA eligible?

In certain cases, shampoos may contain active medical ingredients prescribed by doctors in which case that shampoo would be eligible for reimbursement.

Can I pay for Invisalign with HSA?

Paying For Invisalign Using an FSA or HSA

You can also pay for Invisalign without insurance through an FSA or HSA. These two types of accounts are useful for many payment purposes, plus your employer may offer one of these coverage solutions.