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Summer, Sunscreen and Your HSA: Qualified HSA expenses
Lively · June 30, 2017 · 3 min read
Summer is officially here. A heatwave has swept across the US and BBQs are ready to get fired up for a truly American weekend of grilling, fireworks, and gluttony. Feels like a weird time to talk about your HSA doesn’t it?
Not for the team at Lively, we are gearing up for the weekend by helping you save money on your summer essentials using your health savings account (HSA). You might be aware of the 100’s of items you can use as qualified HSA expenses. If not, here is the full list. You can easily see some summer-specific qualified HSA expenses below to keep you healthy as you enjoy your time outside in the sun or basking by the pool.
Qualified HSA Expenses
Sunscreen & Sun Block (SPF 15+, broad spectrum) – a great way to keep your kids, family or self from getting too much sun. Lather it on!
Prescription Sun Glasses – if prescribed by a doctor you can keep those eyes in the shade all summer. What a wonderful perk.
Allergy Testing – long summer days outside mean more time spent with ragweed and pollen. Use your HSA for all allergy testing in case you can’t keep those eyes from itching or nose from running.
Lip Balm (SPF 15+) – like sunscreen, but for your lips!
Bandaids – for when you stub your toe or take a spill next to the pool. HSAs cover so much!
Medical Care Outside the U.S – Your HSA money is there for you in case you need healthcare while traveling outside the U.S. this summer or otherwise.
Additional Qualified HSA Expenses (Eligible, if prescribed by your doctor)
Acupuncture – relieve those pains or tensions with this ancient remedy.
Massages – really? Yes, after an activity filled weekend, who doesn’t want a massage?
Chiropractic care -get aligned so you feel your best and ready for weekend adventures.
Yoga – get fit and centered. Namaste.
Health club memberships & fees – Don’t let your fitness routine fall by the wayside. Keep on top of your workouts and your health.
Fitness trackers – Help keep your health goals on track and get that daily step count up.
Dietitians – Want to look your best? Talk to an expert!
Remember this is only a sample of your HSA qualifying benefits. Please review the full list and always speak to your financial or tax consultant if you have additional questions because unfortunately, this isn’t tax advice! Most importantly, enjoy your summer!
Benefits
2024 and 2025 HSA Maximum Contribution Limits
Lively · May 9, 2024 · 3 min read
On May 9, 2024 the Internal Revenue Service announced the HSA contribution limits for 2025. For 2025 HSA-eligible account holders are allowed to contribute: $4,300 for individual coverage and $8,500 for family coverage. If you are 55 years or older, you’re still eligible to contribute an extra $1,000 catch-up contribution.
Benefits
What is the Difference Between a Flexible Spending Account and a Health Savings Account?
Lauren Hargrave · February 9, 2024 · 12 min read
A Health Savings Account (HSA) and Healthcare Flexible Spending Account (FSA) provide up to 30% savings on out-of-pocket healthcare expenses. That’s good news. Except you can’t contribute to an HSA and Healthcare FSA at the same time. So what if your employer offers both benefits? How do you choose which account type is best for you? Let’s explore the advantages of each to help you decide which wins in HSA vs FSA.
Health Savings Accounts
Ways Health Savings Account Matching Benefits Employers
Lauren Hargrave · October 13, 2023 · 7 min read
Employers need employees to adopt and engage with their benefits and one way to encourage employees to adopt and contribute to (i.e. engage with) an HSA, is for employers to match employees’ contributions.
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