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| What are qualified medical expenses? |
HSAs can be used to pay for many types of medical expenses, even some that are often excluded on health insurance plans. These include:
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Health insurance plan deductibles, copayments, and coinsurance |
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Prescription and over-the-counter drugs
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Dental services, including braces, bridges, and crowns
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Vision care, including glasses and lasik eye surgery |
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Psychiatric and certain psychological treatments
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Long-term care services
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Medically-related transportation and lodging
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Typically HSAs cannot be used to pay health insurance premiums, although there are exceptions for:
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Health insurance premiums if you are receiving federal or state unemployment benefits |
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Premiums for COBRA qualified health insurance |
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Certain qualified long-term care insurance premiums |
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Premiums for a health plan (other than a Medicare supplemental policy) for an individual age 65 or older
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Note: You must establish an HSA before incurring any expenses or the expenses will not qualify. |
The information above is provided for general purposes only and is not tax advice. eHealthInsurance urges you to consult with your accountant or tax advisor before opening a health savings account to determine if it is appropriate specifically for you. |
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