Utilizing an HSA is a great way to cover healthcare costs, including your copayments, deductibles, prescriptions, and more. You may be wondering if your HSA can apply to your dental expenses? The answer is: yes! You can use your HSA to pay for dental treatments. It can be used to cover some costs that aren’t covered by dental insurance. However, there are some exceptions. Continue reading to learn more about HSAs, how they differ from FSAs, and which treatments they can be used for.
How Are HSAs and FSAs Different?
Health savings accounts (HSAs) and flexible spending accounts (FSAs) both allow you to set money aside before being taxed to pay for the cost of health care. This helps to increase the amount of money you have to pay for medical bills. The difference is that HSAs tend to offer more flexibility and long-term growth potential, including investment opportunities. On the other hand, FSAs are more restrictive and have a use it or lose it approach. FSAs are generally paired with traditional health plans. You don’t get to keep your unused FSA money like you would with an HSA.
Which Dental Treatments Can be Covered with Your HSA?
Your HSA can be used for various qualifying medical expenses, including medical, dental, vision, and prescription costs that may not be covered by your insurance, but has been designated by the IRS as an expense that can be paid for with your HSA. Here are some qualifying dental treatments that can be paid for with your HSA.
- Teeth cleanings
- Dental X-rays
- Dental fillings
- Dental crowns
- Tooth extractions
- Orthodontic treatment
- Dentures
- Dental implants
- Dental sealants
- Fluoride treatment
- Some over-the-counter medications and supplies
What Should You Know About Using Your HSA?
Here are some key points that you should be aware of before you use your HSA.
- Remember to review your plan details before you use your HSA. By familiarizing yourself with these details, you can avoid unexpected fees and penalties.
- You should only use your HSA funds on qualified medical expenses. Anything that isn’t qualified will receive an additional 20% tax penalty.
- After you have reached the age of 65, non-qualified medical expenses will be subject to tax, but there is no 20% penalty.
- If you have dental insurance, you may be used to using your HSA to cover your premium.
Your HSA can make paying for necessary medical and dental treatments easier and less of a burden. If you have any questions regarding what is covered, don’t hesitate to talk to your dental team. Getting essential dental care shouldn’t mean breaking the bank!
About the Author
Dr. Austin Amos earned his Doctor of Dental Surgery degree from the University of Texas School of Dentistry in Houston. Since then, he has been committed to continuing education to keep his knowledge and skills sharp. Currently, he is a proud member of the American Dental Association, Texas Dental Association, Academy of General Dentists, and the Seattle Study Club. For more information about your financial options or to schedule an appointment, visit his website or call (972) 625-4746.