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 roll over into the next year, consider using them this month for qualified medical expenses that support your family's physical and mental health. For background on account rules, see Health Savings Accounts (HSA).
Ways to use HSA funds before year-end
Vision aids and exams - Schedule vision exams to ensure you and family members can see properly. Use HSA funds for contact lenses, cleaning solution, or an extra pair of prescription eyeglasses or sunglasses.
Dental visits - Use HSA funds for cleanings, orthodontic procedures, dentures, or to pay a prepaid dental plan premium.
Chiropractor adjustments - Pay for chiropractic visits that treat an injury or address a functional problem recommended by a provider.
Physical therapy - If your doctor requests additional physical therapy visits beyond what insurance covers, HSA funds can be used.
Prescription medications - Stock up on prescribed medications that manage chronic conditions, lower blood pressure, ease pain, or treat other medical needs.
Over-the-counter medications and supplies - HSA funds may cover many OTC items such as first aid supplies, some supplements, and pregnancy tests; some OTC purchases may require a prescription, so check plan details first.
Insurance premiums while unemployed - If you become unemployed, HSA funds can be used to pay certain medical and long‑term care insurance premiums when allowed by plan rules.
Mental health care - Use HSA funds for mental health evaluations and therapy when related to a medical condition and permitted by your plan.
The money in your HSA is there to improve physical and mental health, so consider using available funds this month rather than leaving them idle. For broader planning and employer‑related healthcare guidance, see Health and Financial Planning: HSAs, Retirement, Investments, and Employer Healthcare.
Frequently Asked Questions
What qualifies as an eligible HSA expense?
Generally, expenses that prevent, diagnose, or treat a medical condition qualify; this includes visits, treatments, and many medications when allowed by your plan.
Can I use HSA funds for over-the-counter medicines?
Many OTC medicines are eligible, but some require a prescription; check your HSA administrator or plan documents for specific rules.
Can I use HSA funds for family members?
Yes, you can typically pay for qualified medical expenses for yourself, your spouse, and your dependents with HSA funds.
Do HSA funds expire at year-end?
No, HSA balances generally roll over year to year, but it can make sense to use funds for eligible care when needed.