This video explains how to use a Health Savings Account (HSA):
- To spend money from your HSA, you must first have funds in the account. HSA contributions are made by you, your employer, or both.
- HSA funds can be used for qualified healthcare expenses, such as prescriptions, doctor’s visits, surgeries, and more.
- To spend the money in your HSA, you can use the physical debit card that you should have received when you first enrolled in the HSA. If you did not receive an HSA debit card, you should contact your HSA provider to request one.
- The video also mentions the wide range of expenses that can be covered using HSA funds, including items like sunscreen, cough medicine, aspirin, and sometimes even weight loss treatments.
- It’s important to keep track of your HSA transactions and ensure that you use the funds for qualified healthcare expenses to avoid potential tax penalties.
