Your savings federally insured to at least
$250,000 and backed by the full faith
and 
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You can use the money in your HSA to pay for any “qualified medical expense” permitted under the federal tax law.
This includes most medical care and services, and dental and vision care, and also includes over-the-counter drugs. You can use the money in the account to pay for medical expenses of yourself, your spouse, or your dependent children. You can pay for expenses of your spouse and dependent children even if they are not covered by your HDHP.
Qualified expenses include:
- Dental treatment, eye exams, eyeglasses and contact lenses
- Prescriptions and over-the-counter drugs such as aspirin
- Medicare premiums and out-of-pocket expenses, such as deductibles, co- insurance and co-payments
- Cobra insurance
- Qualified long-term care insurance
- Hearing aids
- Acupuncture
For a complete list of qualified medical expenses, download the IRS Medical and Dental Expenses publication.
Any amounts used for purposes other than to pay for qualified medical expenses are taxable as income and subject to an additional 10% tax penalty. After you turn 65, the 10% tax penalty no longer applies. If you become disabled and/or enroll in Medicare, the account can be used for other purposes without paying the additional 10% penalty.
Note: This information is intended to provide general information on health savings accounts. It is not intended to provide legal advice or to be a detailed explanation of the rules governing HSAs or how such rules may apply to your individual circumstances under you state tax laws. The Treasury’s web site has additional information about Health Savings Accounts, including answers to frequently asked questions, related IRS forms and publications, technical guidance and links to other helpful web sites.
Need help? Call us at 800.662.2772