10 Things To Use An HSA For (That Aren’t Doctor’s Expenses)

A health savings account (HSA) is a great tool to cover remaining costs insurance doesn’t handle. However, the account can cover many different types of health expenses.  

Here are ten things to do with an HSA.  

1. Outside Care Treatments  

Insurance companies don’t typically cover specialized treatments, like chiropractic care or massage therapy. Use an HSA for them.  

These self-care treatments can make a huge difference in how people feel and can supplement other medical care plans.  

2. First Aid Kits/Health Monitoring Supplies 

An HSA is for all health needs, including supplies not sold in doctors’ offices.  

Blood pressure cuffs, first-aid kits, pulse oximeters and other home medical care items can be necessary for health maintenance. Use an HSA account to cover the cost of these items, providing peace of mind.  

3. Contact Lenses and Glasses  

For many companies, vision insurance is held separately from medical insurance, making it necessary for customers to pay more.  

Though many people without eye problems opt out of this coverage to save on costs, they could end up being one of the millions who need glasses to see at least part of the time. Use an HSA to purchase glasses or contacts, lessening anxiety about the unknown.  

Even with vision insurance, some plans only cover one method of vision correction. With glasses and contacts for daily use, utilize the HSA to cover one of them.  

An HSA also covers sunglasses and other protective eyewear.  

4. Over-the-Counter Medications 

Some medicines aren’t concerning enough to require a prescription, but that can make them ineligible for traditional medical insurance coverage.  

Use an HSA to take care of non-prescription medications, such as acetaminophen, ibuprofen, allergy medications, nasal sprays, stomach soothers and more.   

Access to these medications can reduce the number of trips to the doctor someone needs to feel better.  

5. Drug Addiction Treatment  

Addiction is a terrible disease that can ruin the lives of sufferers and those who care about them. Rehab is expensive, with many unable to afford the treatment.  

Since drug addiction is a severe health condition, use the HSA to cover treatment expenses. From rehab to management medications, these funds could make the difference between life and death for someone struggling.  

6. Feminine Hygiene Products 

Nearly two million people menstruate each month, and most use feminine hygiene products like pads, tampons and menstrual cups, so their bleeding doesn’t affect their day-to-day life.  

Unfortunately, these necessary items aren’t affordable for low-income adults, with a woman spending around $20 a month just to keep clean. That adds up to over $200 each year, which could be spent differently without worrying people about whether or not there are enough supplies.   Thankfully, an HSA can cover menstrual items. 

7. Fertility and Maternity Needs  

While many insurances won’t cover in-vitro fertilization and other fertility expenses, an HSA will. The funds saved can relieve some or all of couples’ financial burdens when trying to start a family.  

Use an HSA to cover the cost of childbirth, saving out-of-pocket money when insurance doesn’t cover all of it.  

Once a baby is born, HSA savings can cover various needs, including breast pumps and milk storage materials.  

8. Kids’ Needs  

Even if they are not on their health plan, parents can use their HSA funds to pay for their medical expenses. This is excellent for handling emergency cases without working through a separate insurance plan.  

If a child is on an insurance plan, parents can still utilize their HSA to cover them. The only rule is they can’t use the funds to cover costs already taken care of by their insurance provider.  

The rules are different for covering adult children. While kids are allowed to stay on their parent’s insurance until they are 26 years old, they can only use their HSA until they are 24. Parents also must claim them as a dependent for them to take funds from it as an adult.  

9. Travel for Health Care 

When traveling to get medical treatment, extraneous costs, like hotel stays, meals and transportation. The good news is an HSA covers costs other than the treatment itself.   

Seek reimbursement for these costs with most HSA accounts so long as the reason for spending is related to medical travel. If traveling with a sick child, seek reimbursement for both needs.  

Keep in mind that it’s up to the user to determine whether or not an HSA account covers these types of expenses. If unsure, contact the account institution or a tax professional for guidance.  

10. A Retirement Fund 

Though it’s designated for health care, someone can legally use their HSA to aid their retirement. It works similarly to an IRA in the tax code. It provides tax-free funds through retirement with a bonus of adding tax deductions for contributions. 

Another advantage is that isn’t an income limit to open an HSA or receive a deduction of thousands of dollars. Use them tax-free for different medical expenses, and after they turn 65, any tax penalty for using it differently disappears, making it perfect for extra retirement needs.  

Taking Full Advantage of an HSA 

An HSA is a great asset for many people and cushions for costs that insurance companies won’t cover. By knowing what all its uses are, people can take advantage of all it has to offer.