By Martha Brown Menard, PhD, Director of Financial Coaching, Questis Do you have too much…
Are you enrolled in an HDHP and contribute to an HSA? Section 213(d) of the Internal Revenue Service Tax Code states that funds you withdraw from your HSA are tax-free when used to pay for qualified medical expenses – but, did you know that you can use these funds for more than just medicine and doctor visits? Here is #2 on our list of smart ways to spend your HSA:
Medical Service Animals
If you have received authorization from your doctor for a medical service animal, you can use your HSA dollars for purchasing, training, and maintaining your animal. Even food and vet costs for medical service animals are allowed by your HSA.
Next week we’ll show you #3 on our list of smart, surprising places you can spend your HSA dollars. Check our blog for tip #1!