can medical equipment be purchased with the hsa?

Medical equipment can be reimbursed with a Flexible Spending Account (FSA), Health Savings Account (HSA) and Health Reimbursement Arrangement (HRA). Benefit maximum - Expenses denied by health insurance because the benefit maximum has been exhausted are reimbursable. Services provided by a number of organisations and individuals may be reimbursable, including care provided by hospitals, physicians, dentists, ophthalmologists, chiropractors, nurses, osteopaths, podiatrists, psychiatrists, psychologists, physiotherapists, acupuncturists, psychoanalysts and others. Hypnotherapy: Expenses paid for hypnotherapy are reimbursable when prescribed by a physician as therapy to treat a medical condition.

Vitamins taken as treatment for a specific medical condition are reimbursable with a medical diagnosis. Maintenance costs - The portion of expenses incurred to maintain equipment used to treat a medical condition are reimbursable. Scientology Audits - Amounts paid to the Church of Scientology for audits are not considered health care expenses. Medical Alert Programmes - Expenses incurred to enrol in a medical alert programme are reimbursable when accompanied by a medical diagnosis.

Weight loss aids - Expenses paid for weight loss aids are reimbursable when the weight loss programme is to treat a medical condition. However, if the therapy is for a condition other than cosmetic treatment of spider veins, expenses are reimbursable when accompanied by a medical diagnosis. Cosmetic procedures - Medical expenses for cosmetic procedures are only reimbursable if the procedure is necessary to improve a deformity resulting from, or directly related to, a congenital anomaly, a personal injury resulting from an accident or trauma, or a disfiguring disease. Alcoholism and drug addiction - Medical expenses paid to a drug or alcohol treatment centre are reimbursable.

Pills and contraceptive devices - Medical expenses paid for pills, injections and contraceptive devices are reimbursable. Hospital - Expenses incurred as an inpatient or outpatient in a hospital for laboratory, surgical and diagnostic services are considered medical expenses. Included is accommodation for a person for whom transportation expenses are a medical expense because that person is travelling with the person receiving medical care. Medical aids - Medical aids such as false teeth, hearing aids, orthopaedic shoes, crutches and elastic stockings are reimbursable.

If you want to save for medical expenses and reduce your taxable income at the same time, you can benefit from a Health Savings Account.

Jonathon Lavelett
Jonathon Lavelett

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