What are qualified medical expenses?

Most HSAs have a long list of qualified medical expenses, including some which are often excluded on standard health insurance plans. Some qualified medical expenses include:

Health insurance plan deductibles, co-payments, and coinsurance
Prescription and over-the-counter drugs
Dental services, including bridges, crowns, and braces
Vision care, including lasik eye surgery, eye exams, and glasses
Psychiatric and certain psychological treatments
Long-term care services
Medically-related lodging and transportation

Although it is usually not permitted to use your HSA to pay health insurance premiums, please not the following exceptions:

If you are receiving federal or state unemployment benefits;
If you have COBRA qualified health insurance;
If you have certain qualified long-term care insurance premiums; or
If you are age 65 or older and you are paying premiums for a health plan other than a Medicare supplemental policy

In order for your healthcare costs to qualify, your HSA must first be established before incurring any expenses.

Health Savings Account (HSA) FAQs

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