Summer Staples Eligible for HSA Reimbursement
With summer here and you and your family spending more time outside or on the road, we thought we provide you with a list of summer staples that can be reimbursed from a health savings account (HSA).
Remember, an HSA is a dedicated savings account specifically for health-related expenses. You own and control the money in your HSA, and the money in the account isn’t taxed. Also, different from a flexible spending account (FSA), an HSA has no expiration date, allowing you to save (and spend) for years to come. Note that for 2024, you can contribute up to $4,150 as an individual and $8,300 as a family.
Items eligible for HSA reimbursement:
Sunscreen: You know that sunscreen can break the bank, especially when you’re buying for the whole family. Good news! An HSA covers over-the-counter sunscreen of all types, including sunscreen or sunblock designed for your face, kids, or keeping the bugs at bay.
First-aid supplies: What would a summer road trip be without a few scrapes, bumps, and bruises along the way? Make sure you have the supplies you need on hand to handle minor first aid needs, all eligible for reimbursement.
Athletic tape and wraps: Got an active crew? Boost your first aid kit to match. Your HSA covers the cost of athletic tape, cooling and heating wraps, bandages, and braces.
Lip balm: To be HSA-eligible, make sure you purchase lip balm with a 15 SPF and broad-spectrum protection.
Prescription sunglasses: You know your HSA covers prescription eyeglasses. What you might not realize is that it also covers prescription sunglasses.
Fitness tracking device: Stay on track with your fitness goals this summer with a tracking device. Just keep in mind that you’ll need a doctor’s Letter of Medical Necessity (LMN) stating that it’s medically necessary.
One more thing: If you want there to be no doubt that your items are HSA-eligible, check out sites like HSAstore.com. Everything on the site is guaranteed HSA-eligible or your money back.