Let’s face it: a proper self-care routine is the very foundation of glowing skin and a healthy body. However, self-care products and medical instruments aren’t cheap (even the essential ones). The good news is that you can avoid paying out of pocket for some of them. 

To do so, you need a Health Savings Account (HSA), which allows you to manage medical expenses, other than doctor’s visits and prescriptions, with pre-tax dollars. To be eligible for an HSA, you need a high-deductible health plan (HDHP), which is available for both self-employed and employed people.

In today’s piece, we’ll talk about HSAs – what they are and what they cover, so stay tuned until the end.

What is an HSA?

A Health Savings Account (HSA) is a special savings account that allows you to set aside pre-tax dollars to pay for qualified medical expenses, reducing your taxable income. 

To be eligible for an HSA, you must be enrolled in an HDHP, not have other health coverage that isn’t an HDHP, not be enrolled in Medicare, and not be claimed as a dependent on someone else’s tax return.

Wondering how it can support your self-care routine? HSAs go beyond the basics, letting you purchase essential items that keep you healthy day-to-day. From over-the-counter medications to feminine hygiene products, many useful self-care products qualify for HSA coverage. 

Essential Self-Care Products Covered by the HSA

Moving forward, we’ll list some of the most common must-have self-care items covered by your HSA so you can make the most of your savings while taking care of yourself.

1: Over-the-counter medications and supplements

HSAs now cover a wide range of over-the-counter (OTC) medications without needing a prescription, making it easier to manage everyday health needs. 

Common types of OTC medications that qualify include:

• Pain relievers – Products like ibuprofen, acetaminophen, and aspirin that are designed to help manage headaches, muscle pain, or minor arthritis.
• Cold and Allergy Medications – This includes decongestants, antihistamines like loratadine (Claritin), and cough syrups.
• Digestive Aids – Antacids for heartburn relief or laxatives for occasional constipation.

HSAs can also cover health supplements, like the ones from TrueMed, but you have to be careful since not all options are eligible. For instance, since the IRS does not consider supplements like vitamins and minerals medically necessary, you can cover them with your HSA only if they are prescribed by a healthcare provider.

If you’re unsure whether a particular supplement qualifies, check with your HSA administrator or consult IRS Publication 502 for detailed guidelines.

2: First Aid Kits and Supplies

Your HSA covers a variety of first aid kits and supplies, making it easy to stay ready for life’s little accidents. Essential items like bandages, antiseptic wipes, gauze pads, adhesive tape, and even burn creams are all covered.

3: Feminine Hygiene Products

A menstruating person who uses basic tampons (no brand) will spend somewhere around $2.000 in a lifetime only on this essential hygiene product. Add to this panty liners, pads, or menstrual cups, and the costs are already way more than expected.

The good news is that your HSA covers period-related essential hygiene products, such as pads, tampons, and menstrual cups.

4: Sunscreen with High SPF

Protecting your skin from harmful UV rays is one of the essential things to be aware of when it comes to your health. Luckily, if you have an HSA, you can splurge on high-quality sunscreens with a high SPF (usually 30 or higher).

The criteria for coverage include the sunscreen being labeled as “broad-spectrum,” meaning it protects against both UVA and UVB rays. This ensures you’re getting comprehensive protection while out in the sun.

5: Prescription Eyeglasses and Contact Lenses. 

Your HSA also covers prescription eyeglasses and contact lenses, making vision care more affordable. The program also includes regular check-ups with an eye doctor so you can make sure your eyes stay in good health. Plus, many HSAs also cover accessories like lens cleaning solutions or protective cases.

Wrap Up

As you can see, having an HSA can be quite beneficial for both your health and finances. So, check if you’re eligible, and if so, don’t hesitate and apply today! You’ll enjoy the benefits of using pre-tax dollars for essential self-care products while saving money.