As you’re prepping for the upcoming holiday season, consider adding your Health Savings Account to your to-do list. It only takes a few minutes to check your balance on your HSA statement. While those funds do rollover into the next year, consider using them this month for qualified medical expenses that assist you and your family members in staying physically and mentally healthy.
1. Vision aids and exams – Ensure you and your family members can see properly when you schedule visions exams this month. Now’s also a great time to buy extra contact lenses and cleaning solution or an extra pair of prescription eyeglasses or sunglasses.
2. Dental visits – Clean those pearly whites, begin orthodontic procedures, buy dentures or pay prepaid dental plan premium with your HSA funds.
3. Chiropractor adjustments – Schedule a chiropractic visit this month to fix an injury or solve a functional problem you may have, and you can use HSA funds to pay for it.
4. Physical therapy – While your health insurance may cover some physical therapy visits, HSA funds cover additional visits your doctor requests.
5. Prescription medications – Stock up on medications that lower blood pressure, ease pain or manage other medical conditions you or your family members may suffer from.
6. Over-the-counter medications – You can use HSA funds for a variety of OTC medication purchases, including first aid supplies, nutritional supplements and pregnancy tests. However, some OTCs may require a prescription. Talk to your HSA administrator for specific plan details before you head to the drug store.
7. Insurance premiums while unemployed – If you find yourself laid off or fired this month, use HSA funds to pay medical insurance and long term care insurance premiums.
8. Mental health care – Use HSA funds to pay for mental health evaluations and therapy related to a medical condition.
The money in your HSA is there to improve your physical and mental health. Instead of forgetting about it until next year, take advantage of your funds this month.
