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Health Savings Account - Qualified Expenses

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What are eligible medical expenses that I can pay for with tax-deductible HSA funds?

An eligible medical expense is defined as those expenses paid for care as described in Section 213(d) of the Internal Revenue Code. Below are links to two lists – deductible and nondeductible medical expenses – which are provided as quick references to help you determine whether an expense is eligible for HSA reimbursement.

Deductible expenses - see list of items

 

Non-deductible expenses - see list of items

 

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The above information is provided with the understanding that Bank of Geneva is not engaged in rendering tax advice.  For more detailed information, please refer to IRS Publication 502 titled “Medical and Dental Expenses”, Catalog Number 15002Q.  Publications can be ordered from the IRS by calling 1-800-TAX-FORM (1-800-829-3676), or viewed, printed or downloaded in PDF format (Please refer to http://www.irs.gov/pub/irs-pdf/p502.pdf).  If tax advice is required, seek the services of a competent professional.

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  • Deposit accounts at the Bank of Geneva are insured by the Federal Deposit Insurance Corporation (FDIC).

  • Request a Truth-in-Savings disclosure for further details on this account.