How many of you can tell me some items that are HSA reimbursable? No, I’m not talking about your co-pay from the visit to the doctor’s office. While that is a reimbursable expense, I’m talking about more off-the wall items.
Well, good news. Here is a helpful list of HSA reimbursable items that you would probably never think of. Also, I’ll provide links so you can see a full list of things you can get reimbursed for.
Table of Contents
For those that don’t know what an HSA is, read this article:
$500,000 + 6 Reasons you need a Tax-Free HSA Today
And in case you missed part 1 of the HSA series, here you go:
HSA Uses | Part 1: Best for College Savings or Health Savings (Medical Expenses)
Okay, we should all be on the same page now. HSA’s are a wonderful place to invest money. Now, let’s get started with the list HSA reimbursable items you would never think of.
HSA Reimbursable Items you didn’t know about
A trip to the dentist is most often covered by dental insurance, separate from medical insurance. Therefore, it’s often thought of as separate from medical expenses, but not anymore!
Have you had to pay a co-pay for your trip to the dentist? Have you had any expenses for filling in cavities, root canals, etc.? If you had an expense at the dentist, it is likely an HSA eligible expense.
That said, there are a few dental hygiene related items that are not HSA eligible. Those are items that you would by yourself at the store, like toothbrushes, toothpaste, floss, mouthwash, etc.
For more details, check out this post at the HSA Store. They have lots of good information overall.
Just like your teeth, your eyes are covered as well. Eye exams are HSA reimbursable. Eyeglasses and sunglasses are covered, but only if they’re prescription. However, most eye-doctors are willing to write a prescription for sunglasses, just so your eyes are protected.
Eye surgery and treatments to correct vision, in some cases, are HSA reimburseable. Surgeries like cataract removal or even LASIK. Be sure to check!
Mileage & Travel Costs
Okay, you’ve been driving around to all these appointments. If you have kids, that could mean a lot of driving.
When traveling for medical care to a hospital or doctor’s office, costs of traveling such as parking fees, tolls, gas and oil may be considered eligible for reimbursement with a consumer-directed healthcare account. These costs are associated with using an automobile for obtaining medical care.
Similarly, mileage accrued via public transportation such as a bus, taxi, plane fare or ambulance service may also be counted as mileage for travel for medical care and are therefore eligible for reimbursement.
Other eligible mileage expenses include a parent’s transportation expenses if they are accompanying a child who needs medical care. If a nurse must travel with a patient in order to provide injections, medications, or other treatment as required by the individual’s medical condition or disease, then the nurse’s travel expenses are also eligible for reimbursement.
Regular visits to see a mentally ill or developmentally disabled dependent are also eligible for reimbursement so long as these visits have been recommended by a medical professional as part of that individual’s mental health treatment.
While the mileage reimbursement rate goes up and down from year, depending on what mood the IRS is in, it’s better than nothing. The rate for 2020 is .17 cents per mile.
Need some Toy Story 4 bandages, or maybe some with Elsa’s picture on them? Yeah, you can get reimbursed for those. Now that we got you covered; you may be wondering about the kids? The Band-Aid Tough Strips and Band-Aid Family packs are covered as well.
How about an ACE bandage to wrap up a sprained ankle? Neosporin? Might as well just get a whole First-Aid kit. Those are all HSA reimbursable items.
I may have just used all the name brands, but don’t forget you can save yourself some money by using the store brand equivalent. In this case, keep more money invested in your HSA.
Buying pregnancy tests won’t count towards your insurance deductible if you end up testing positive, but anything to ease the cost of pregnancy is helpful. This is one less out-of-pocket expense you have to worry about.
Sunblock 15+ SPF
Anytime I’m out in the sun, I should be wearing sunblock. My skin tone burns and burns fast and burns bad. Now I know it’s eligible to be reimbursed from my HSA account.
That gives me one less excuse not to use sunblock.
FSA Reimbursable as well!
The items on this list are all reimbursable from an FSA account as well. This might be more important, because FSA funds are “Use it or Lose it.” Meaning you have to use the money or it disappears at the end of the year.
Wondering What Else is HSA Reimbursable?
There are a ton of medically related items. Too many to list and each person’s situation is different. HSA Store has a search engine you can use to find items, or you can browse be category.
Basically, if it’s a medically related item that will help you in the long run, it’s reimbursable. From hearing aid batteries to lip balm. From braces to vitamins. They are all HSA Reimbursable items.
HSA Savings Reminder
I just wanted to remind everyone that I recommend paying for the items in this list out-of-pocket and saving the receipts, if you can afford to do so. This will be most beneficial to you in the long run, as it allows your HSA to grow using the power of compounding interest.
The money is available for withdrawal when the time comes, or if you are ever in a pinch.
Receipt paper does not last a very long time, so I also recommend making digital copies of the receipts.