Below are two quick reference lists that may help determine whether an expense is eligible for hsa reimbursement. What eligible medical expenses can i pay for with hsa funds. For further information, refer to irs publication 502 medical and dental expenses, number 15002q. Additional products are fsaeligible with a prescription. Sigis has developed a list of health care overthecounter items and other services that are considered eligible under internal revenue code section 2 rules. The expenses must be primarily to alleviate or prevent a physical or mental defect or illness, including dental and vision. Please refer to your plan document for confirmation of reimbursable expenses under your plan. Health savings account hsa employee benefits corporation.
Due to frequent updates to the regulations governing fsas and hsas, this list. Simplyhsa is a savings account for eligible health expenses. Hsa eligible expensesqualified hsa expenses wageworks. They also provide information on what supplementary documentation you may need to provide for your expenses or retain in case of an audit.
Eligible expenses can also include expenses incurred outside your province of residence, deductibles, copayments, and amounts above plan maximums. Qualified medical expenses qme are designated by the irs. Hsa irs contribution limits and guidelines hsa bank. The irs determines which expenses are eligible for reimbursement. See the last page for rules regarding documentation. Additional products are fsa eligible with a prescription. Hsas can be funded through a pretax salary deduction through a 125 cafeteria plan or on an aftertax basis by you, your employer, or both. Use these tables to determine which products and services are considered qualified medical expenses under irs rule and what supplementary documentation you may need to provide for your expenses or retain in case of an audit. Qualified medical expenses at a glance to maximize the value of your hsa, you must use your account funds for expenses the irs deems acceptable. Health hsa eligible expenses health savings accounts. If you have an hra, your employers plan may only reimburse a subset of expenses.
Qualified expenses for a health savings account hsa. Letter in addition to the required detailed receipt, you will need to submit a letter of medical necessity, signed by your doctor, to verify this expense is a medicallynecessary treatment for a known medical condition. You must be an eligible individual to qualify for an hsa. Bestflex standard health fsa eligible expenses employee. The cost of a legal abortion is a qualified medical expense. Below is a partial list of medical expenses that may be reimbursed through your fsahra or hsa, including services incurred by you or your eligible. Fsahsa eligible health care expenses advance payment for services to be rendered. For additional information on hsa eligible expenses, consult irs publication 502 medical and dental expenses. Employee is able to maintain hsa full balance, rather than spending money on deductible, dental and vision.
Hsa examples of eligible expenses amazon web services. Expenses that qualify for reimbursement from tasc hsa. Below is a partial list of eligible expenses that are reimbursable through an hsa. People age 65 and older, disabled or those who inherit an hsa upon death of the ac. Additional items joined this list effective january 1, 2011, due to changes in the law brought about by the patient protection and. For a full list of medical expenses account holders can use their fsa or hsa funds on, view the irss publication 502, medical and dental expenses. Employee benefits corporation national third party.
For further information refer to irs publication 502 and irs publication 969 at. Eligible expenses include health plan copayments, dental work and orthodontia, eyeglasses and contact lenses, and prescriptions. A health savings account is an individually owned taxexempt account established exclusively for the purpose of paying for qualified medical expenses. Health savings accounts hsas a health savings account hsa is a taxexempt trust or custodial account you set up with a qualified hsa trustee to pay or reimburse certain medical expenses you incur. Publication 969 2019, health savings accounts and other.
For more information, see your hsa participant guide. Many otc medical supplies may be eligible for reimbursement from an hsa, and no prescription is required. The irs sets limits each year for maximum contributions to each type of accountbased benefit. To be a qualified expense, the expense has to be primarily for the prevention or alleviation of a physical or mental defect or illness.
Qualified medical expenses the internal revenue service defines qualified medical care expenses as amounts paid for the diagnosis, cure or treatment of a disease, and for treatments affecting any part or function of the body. Benefits eligible hsa and fsa expenses eligible expenses guide 027175 052014 expense hsafsa eligibility supplementary documentation acne treatment yes, with prescription. Get the most out of your benefits with our education, technology, and. Sales tax is eligible for reimbursement with flexible spending accounts fsa, health savings accounts hsa, and health reimbursement accounts hra. Proof of qualified expenses is the hsa account holders responsibility. You can use the hsa to pay for qualified medical expenses for yourself, your spouse and. Rxmn eligible for reimbursement with a doctors noteprescription for products or a medical necessity form for services. Eligible medications and products all otc items listed are examples. Below are some qualified medical expenses that may be paid from your hsa. The amount you spend will be federal income taxfree. Employee education expenses that qualify for reimbursement from tasc hsa hs4248120115 medical expenses acupuncture artificial limbs. Qualifiednonqualified medical expenses under health fsahra or. Fsahsa eligible otc medications and products fsahsa eligible health care expenses. Once youve contributed money to your health savings account hsa, you can use it to pay for qualified medical expenses for yourself, your spouse and your.
Cosmetics, moisturizers or other items that merely contain acne fighting ingredients are not eligible. Medical expenses include dental expenses, and in this publication the term medical expenses is often used to refer to medical and dental expenses. Weve also put together summaries of dependent care assistance program dcap and commuter benefits account eligible expenses as well and dont forgetthe easiest and most convenient way to pay for your eligible items is with your payment card. Expenses marked with an asterisk are potentially eligible expenses that require a note of medical necessity from your health care provider, which should be kept with your receipt for the expense. You can pay for a wide range of irsqualified medical expenses with your hsa, including many that arent typically covered by health insurance plans. To help you keep track, we put together the hsa, fsa, and hra eligible expenses list below. The examples listed here are not allinclusive, consult your tax advisor or see irs publication 502 or irs publication 969 for more information. American health value is not engaged in rendering tax advice. If distributions from the account are used for nonmedical expenses, the amounts will be taxed and subject to an additional 20% penalty. When prescribed by a physician for the treatment of acne, the cost of acne treatment is a qualified.
Hsa tax savings calculator hsa future value calculator hsa plan comparison calculator. This is intended to be a simple guide or quick reference for our clients and is not intended for tax advice. Individuals may continue to make 2019 hsa contributions through july 15, 2020. Eligible health savings account expense examples there are hundreds of eligible expenses for your hsa funds, including prescriptions, some overthecounter items, health insurance deductibles, and coinsurance. If you use a paybyphone or online account to pay your medical expenses, the date reported on the statement of the finan. Know your hsa options your hsa gives you the opportunity to pay for eligible health care expenses now, or save your money for future expenses. Personal care items or services for general health are not usually eligible. The health savings account is an employeroffered benefit and it works like a bank account for participantsbut also offers triple tax savings and investment opportunities. Hsa funds can be used for any current expenses not reimbursed elsewhere or saved for future expenses. Cosmetics, moisturizers or other items that merely contain. Eligible and ineligible expenses for hsa below is a partial list of permissible expenses reimbursable through a health savings account hsa that are incurred by you, your spouse, or qualified dependents. An hsa is a financial account that you can fund with pretax contributions from your paycheck or aftertax contributions that are taxdeductible. Fsa chart depending on your business and the health insurance plans you offer, you might only be able to offer an fsa.
For full hsa eligible expenses and guidelines, refer to irs publication 502 or contact your hsa administrator. Benefits eligible hsa and fsa expenses eligible expenses guide. The items in bold are new additions per the cares act. Flexible spending account fsa eligible products walgreens. Eligible expenses are reasonable medical expenses not reimbursed by any government sponsored or private health care plan. The list originates from a database of more than 70,000 health. A health savings account hsa is a taxexempt trust or custodial account you set up with a qualified hsa trustee to pay or reimburse certain medical expenses you incur. Eligible expenses can be incurred by you, your spouse, or qualified dependents. Type a keyword in the search box or search the lists.
Please note that the following is not meant to be an allinclusive listing and may contain items which require specific criteria be met before the expense can be considered qualified. This table itemizes eligible health care expenses for hsa reimbursement per section 2 d of the internal revenue code irc. For the complete list of eligible and ineligible expenses, visit. An hsa may receive contributions from an eligible indi vidual or any. Hsa funds may even be used for eligible expenses for your spouse or tax dependents. We help employers and participants understand the plan and get the most value out of it. The expenses associated with the adoption of a child are not eligible for reimbursement with a flexible spending account fsa, health savings account hsa, health reimbursement arrangement hra, limited care flexible spending account lcfsa or dependent care flexible spending account dcfsa. If you pay for anything other than qualified expenses with your hsa, the amount will be taxable. Eligible expenses may be paid from your hsa for yourself, your spouse, and other qualified tax. Medical fsa and hsa expense eligibility list updated 0721 2015 skin drugs or medicines that must be prescribed in order to qualify.
Hsa eligible expenses 2019 health savings accounts rules. What happens if i use my hsa for a non qualified expense. Find out what you can buy with your health account. Medical fsa and hsa expense eligibility list updated 0721 2015 the following is a summary of common expenses claimed against medical flexible spending account fsas and health savings accounts hsas. Qualified medical expenses funds you withdraw from your hsa are taxfree when used to pay for qualified medical expenses as described in section 2d of the internal revenue service tax code. Hsa, hra, healthcare fsa and dependent care eligibility list. You can use your account to pay for a variety of healthcare products and services for you, your spouse, and your dependents. When prescribed by a physician, the cost of an acid controller is a qualified medical expense. Easily manage your benefits and support your employees.
This includes deductibles, coinsurance, prescriptions, dental and vision care, and more. Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body. You can view a comprehensive list of eligible expenses by logging into your wageworks account. Benefits eligible hsa and fsa expenses eligible expenses guide 027175 052014 expense hsa fsa eligibility supplementary documentation acne treatment yes, with prescription. Eligible medical expenses per section 2 d of the irc. Fsa and hsaeligible products like contact lenses, first aid supplies and sun care can be paid for in store or online with your fsa or hsa card. Datapath summit features allinone, cloudbased hsa administration, with management, investments, and flexible banking options. For that reason, otc medications cannot be purchased using the mysourcecard unless dispensed by a pharmacy. Used to pay qualified health care expenses you can earn taxfree interest please note that you need to put money in your hsa before you can use it. The bestflexsm plan standard health fsa eligible expenses. Exebridge employee benefits my health plans hdhp plan. Eligible expenses in an hra will vary depending on plan design.
See pages 1920 for more information on crossover see pages 56 for more information about hsa eligibility. Distributions made from an hsa to reimburse the account beneficiary for eligible expenses are excluded from gross income. An eligible medical expense is defined in section 2 d of the internal revenue code. If you pay medical expenses by check, the day you mail or deliver the check generally is the date of payment. They include medical, dental, vision and prescription expenses. Once youve contributed money to your health savings account hsa, you can use it to pay for qualified medical expenses for yourself, your spouse and your eligible dependents. The irs has extended the tax deadline from april 15th to july 15th.
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