Emily Clarke

4 Things You Can Buy With an HSA

Paying for healthcare these days can be a challenge. Even if you have insurance, there are some medical services and products that insurance just doesn't cover.

To help workers overcome these challenges and get the healthcare they need, some employers provide health spending account benefits. A health spending account (HSA) is a type of savings account that allows money to be invested tax-free to be spent on items and services related to personal wellness. If you are looking for a health spending account, visit this website.

Below are just a few of the many things that you can purchase with HSA funds:

1. OTC Medications

Over-the-counter (OTC) medications are not usually covered by traditional insurance, but you may be able to use your HSA funds to pay for these items. In fact, as of 2020, the CARES Act added a lot of new OTC medications and personal healthcare items for purchase with HSA funds. Heartburn medications, menstrual products, and nasal sprays are all examples of OTC products that you can now purchase using HSA funds.

2. Hearing Aids, Glasses, and Dental Work

Traditional health insurance may also be limited in what it will cover regarding hearing, vision, and dental care. For these expenses, you may consider using HSA funds since things like dental fillings, eye exams, and hearing aids are all expenses that can be paid for using HSA funds.

3. Emergency Medical Services

Although traditional insurance often provides some sort of benefit for emergency medical services, there is often a cost left over for people who need these services. Ambulance rides, hospital stays, and more can all be paid for using HSA funds, and even if you have health insurance, your HSA may be able to make up for the portions that your policy doesn't cover.

4. First Aid Supplies

It's also good to know that you can use HSA funds to pay for first aid supplies like pain relievers, bandages, and antibacterial ointments. Additionally, you can use HSA funds to pay for items like braces and wraps that can be used for orthopedic support following an illness or injury.

Author Resource:-

Emily Clarke writes about employee management, benefits and payroll service. You can find her thoughts at payroll software blog.