If you have a high-deductible health plan (HDHP) and a Health Savings Account (HSA), Flexible Spending Account (FSA), or Health Reimbursement Arrangement (HRA), you probably know that these accounts can be used to pay for eligible medical expenses.
But did you know that they can also be used to pay for certain non-prescription products?
Eye cream, for example, is often considered a cosmetic item, but it’s actually an over-the-counter drug that does count as an HSA-eligible expense.
Is Eye Cream Eligible for Use with an HSA, FSA, or HRA?
If you have an HSA, FSA, or HRA, eye cream is eligible for use with all three types of plans.
How Do I Use My HSA, FSA, or HRA for Cosmetic Products?
You can use your HSA, FSA, or HRA to pay for any eligible medical expense.
Your healthcare provider will tell you which expenses are eligible and how much money to spend on them.
You may also be able to use your plan for an eye cream that is not available through a prescription (over-the-counter).
If you have questions about how this works, ask your healthcare provider or contact the plan directly.
Can I Pay for Things Like Eyeliner with My Health Savings Account?
Nope. The IRS has strict rules about what is and isn’t eligible for reimbursement in your HSA, FSA, or HRAs.
Eyeliner is specifically excluded from reimbursement by the IRS.
That means you can’t use your HSA funds to pay for it—including its purchase online via a third-party retailer like Amazon or buying online at Sephora’s website!
Are Hair Removal Products Eligible for Use with My HSA?
Hair removal products are eligible for use with your HSA, whether you have an FSA or HRA.
However, there are some restrictions that may apply to certain products.
For example, laser hair removal devices (which use intense light to destroy hair follicles) are typically not eligible for reimbursement under most HSAs because they are considered cosmetic procedures and therefore not covered by insurance plans that offer an HSA option.
However, the FDA has approved certain types of laser devices for permanent hair reduction in select cases—so it pays to check with your insurance company before you start spending money on these pricey treatments just in case they’re actually covered by your plan!
Another example of a non-HSA-eligible product would be electrolysis (a permanent form of hair removal).
In order to receive reimbursement from your HSA for electrolysis treatments over time, you’ll need to submit receipts showing how much it costs per appointment—and make sure that the price exceeds any amount covered by other sources like insurance or employee benefits packages!
A list of personal care products that can be used with an HSA.
The Health Savings Account (HSA) is a tax-advantaged savings account designed to help you save on taxes.
HSA-eligible products are personal care products that can be bought with a health savings account to help you save on taxes.
- Over-the-counter drugs, prescription drugs, and medical supplies (including contact lenses)
- Eyeglasses and contacts
- Hearing aids
- Durable medical equipment such as walkers, wheelchairs, and oxygen tanks
- Vitamins & nutritional supplements
We hope this article has answered your questions about using your HSA for personal care products.
As always, the best way to find out if something is eligible for use with an HSA is to check with your health savings account administrator or benefits manager.