Top 10 Ways to Use an HSA

Top 10 Ways to Use an HSA

1. Pay for doctor visits and specialist appointments Use your HSA to cover copays, office visits, and specialist consultations tax-free. 2. Cover prescription medications Prescriptions — both brand name and generic — are qualified medical expenses. 3. Pay for dental care Cleanings, fillings, crowns, braces, and even dental surgery qualify. 4. Cover vision expenses Eye exams, glasses, contacts, and LASIK surgery are all HSA-eligible. 5. Save for retirement healthcare costs After 65, you can withdraw HSA funds for any purpose without penalty. For medical expenses, withdrawals remain tax-free at any age. 6. Invest for long-term growth Demo.Health offers 33 low-cost Vanguard mutual funds. Invested HSA funds grow tax-free. 7. Pay for mental health services Therapy, counseling, and psychiatric care are qualified expenses. 8. Cover over-the-counter items Since the CARES Act, OTC medications and menstrual care products qualify. 9. Pay COBRA premiums HSA funds can be used to pay COBRA continuation coverage premiums tax-free. 10. Reimburse yourself later Keep receipts for expenses you pay out of pocket now, and reimburse yourself from your HSA anytime in the future — even years later.