Can I Use My HSA for Acupuncture??
Many people as me all the time: "Can I use my HSA for acupuncture treatments?"
So here's my answer:
You can definitely use your HSA for acupuncture treatments. A HSA (health savings account) is a tax-advantaged health/medical savings account that some jobs may provide for you. Along with the monetary amount your job contributes, you can also make contributions to your account. Keep in mind that whatever you contribute to your account will not be subject to any federal income taxing when deposited. Your HSA will also "rolls over" from year to year - so you do not have to use it all in one year!
The funds in your HSA can be invested in the same way as IRAs. The earnings from the investment are guarded from taxation until you take the money out.
As the sole owner of your HSA, you do not have to obtain any type(s) of approval prior to a withdrawal. Most HSA programs provide multiple methods that enable you to withdraw from or use your account. Such methods include: a debit card, submission of a superbill and account checks.
*Brought to you by Loveland Acupuncture*
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