HSA eligible expenses – Health Savings Accounts offered by banks insurance under the HDHP scheme is a type of savings account that lets you save for medical expenses similar to a medical insurance scheme except for a few differences most importantly being e account is owned wholly by the individual themselves unlike medical insurance policies that are controlled and maintained by the insurers.
This way annuals premiums that are accrued over a period of time help to increase the insured amount of the policy as well as not claimed over a consecutive period of time gives the policy holder bonuses or benefits. Comparatively the HSA does not yield any bonus,but it is not subject to Federal Taxes and can be availed anytime to pay for medical emergencies.
Investing in an HSA contributions or deposits can be made by either the individuals themselves or incorporated in the Employees benefit scheme so that a small portion of the employees salary can be used to make contributions. The maximum contribution at a time limit in a given cycle is pegged at $3100 for an individual account and $6250 for family account.
List of HSA eligible expenses
FEES include diagnostic fees,doctor prescribed helath institute fees,ambulance charges,fees for lab tests,hospital and nursing home admittance charges operating room costs,
PRESCREPTION drugs and vaccines,vitamins
CONSULTATION and other charges to any of the following- Physician Physiotherapist Optician Obstetrician Orthopedist Psychiatrist,Psychoanalyst Neurologist Psychologist Ophthalmologist Registered Nurse Optometrist Dermatologist Anesthetist Surgeon Podiatrist Practical nurse for medical services
EXTERNAL SUPPORTS Braces,Crutches,Dentures,Eyeglasses,Wheelchair,Contact Lenses,Hearing aids and batteries,Orthopedic shoes,X-ray ,Cardiographs ,Dental Treatment,Dental x-rays Arch supports,Artificial limbs Abdominal Supports
Abortion,birth control pills,Gynecologist,Vasectomy,Pediatrician,Sterilization
OXYGEN Support and equipment,hydrotherapy,Radium Therapy,Organ Transplant,Therapy Equipment,Spinal Fluid test,metabolism tests
TREATMENT for gums, and alcoholism, ultraviolet treatment