diane r. adams Insurance AGency


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What is an HSA?

HSA stands for Health Savings Account. It's a special savings account for people who have a high deductible plan (HDHP). The HSA allows you to save tax-free dollars to pay for IRS-qualified medical expenses the HDHP doesn't cover.

What does an HSA pay for?

The tax-free dollars you save in an HSA can only be used to pay for "IRS-qualified medical expenses."

These include:

  • Medical expenses before you meet your health plan deductible
  • Dental care services
  • Vision care services
  • Prescription services
  • Over-the-counter medications prescribed by your doctor
  • Certain medical equipment


Insurance premiums are generally NOT considered IRS-qualified medical expenses unless they are for:

  • Continuing COBRA or ERISA coverage
  • Certain long-term care insurance
  • Health coverage during unemployment
  • Coverage over age 65, including Medicare or employer retirement health benefits