Daniel Stewart

Can I Use an HSA to Cover Pregnancy Related Costs?

Having a child is a massive expense. While most people think of what they'll spend to support a growing child for 18 years, getting pregnant comes with substantial costs, too. There are many expenses to consider.

Fortunately, you can use your health savings account (HSA) to bridge the gap. Here are a few expenses your HSA will cover.

Tests and Treatments

Believe it or not, you can use HSA toward family planning. You may need to invest in several tests when trying to get pregnant. In addition to your standard pregnancy test, you may turn to ovulation tests, predictors, etc. Some couples also have to get fertility treatments to start their family. Those costs alone can be significant.

Tests and treatments fall under the umbrella of qualified medical expenses.

Doctor's Visits

Whether your pregnancy is an unexpected joy or carefully planned after fertility treatment, you'll need to see an OB/GYN to get appropriate care. Health care providers can monitor your health and the health of your growing baby. Like most doctor's visits, you can use your HSA to cover costs.

You can also use your HSA to pay for insurance deductibles, copays, coinsurance and other costs related to your doctor's visits.

Prenatal Vitamins

There's considerable confusion about HSAs and vitamins. Over-the-counter vitamins and supplements you pick up at your local drugstore don't count as a qualified medical expense. However, vitamins recommended by a health professional are HSA-eligible.

In most cases, prenatal vitamins fit the bill. Most OB/GYNs recommend prenatal vitamins to anyone pregnant or trying to get pregnant. You may even get a vitamin prescription.

Delivery and Associated Expenses

When the big day comes, you can expect a considerable bill from the hospital. It's possible to use HSA toward family planning, including delivery! All costs associated with delivery count as qualified medical expenses. Furthermore, many of the post-delivery products you'll need are eligible. That includes breast pumps and recovery supplies.

Having a child can be pricey. An HSA is a valuable tool in your cost-saving arsenal that can offset what you pay out of pocket, allowing you to focus less on the financial aspects and more on starting your family.

Author Resource:-

Daniel Stewart has been helping people with their money management and personal finance with over 15 years' experience in business finance. You can find his thoughts at HSA strategy blog.