When employees have a health savings account (HSA), they generally understand that visits to the doctor or dentist can be paid for through their HSA. But when it comes to other items or services, employees may be missing out on tax savings by not using their pre-tax HSA dollars toward purchasing qualified items.
What services, you say? Put yourself in an employees’ shoe: have you ever suffered from lower back issues that moved you to consider acupuncture, chiropractic care or therapeutic massage? The good news is an HSA would cover all three services*!
Check out the infographic, 11 Surprising Things You Can Buy with Your Health Savings Account, which is designed to provide more clarity on the buying power of an HSA.
Updated [10/13/2021]: Legislation aimed at providing relief during the COVID pandemic added some eligible expense categories for HSAs. These include over-the-counter medicine, feminine hygiene products, and PPE. We have updated the infographic to reflect these changes.
Employees can also download the Further mobile app, which features a scanning tool that can scan a product in the store and let employees know if the item can be purchased through their HSA.
*Some expenses are only eligible purchases from an HSA with a valid prescription and/or letter of medical necessity.