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Health Savings Accounts IRS Guidelines
How can you use your HSA funds?
For favorable tax treatment, the funds in your Health Savings Account must be used for qualified expenses, including:
- Medical expenses, such as doctor visits, prescriptions, dental care or transportation to get medical care
- Long-term care insurance
- Health care coverage when unemployed
- Certain continuation-of-benefit health care coverage
- Certain health insurance after age 65
Note that HSA funds can no longer be used for over-the-counter medication, except in limited circumstances; check with your tax advisor for details.
For more information, see IRS Publication 502.