An HSA, or Health Savings Account, is a savings account that allows you to save money specifically for medical expenses. Dental expenses are one type of medical expense that can be paid from an HSA. There are limits on how much you can spend from your HSA on dental expenses each year, and how much you can contribute to your HSA each year. You can submit a claim for reimbursement from your HSA for dental expenses, and there are some benefits to using an HSA for dental expenses.
Table Of Contents
- 1 What are the limits on using an HSA for dental expenses?
- 2 How do I submit a claim for using my HSA for dental expenses?
- 3 What are some of the benefits of using an HSA for dental expenses?
- 4 How much can I contribute to my HSA each year?
- 5 How do I know if I am eligible to open an HSA?
- 6 What happens to my HSA when I leave my job?
- 7 Is there a limit on how much I can spend from my HSA each year?
- 8 What dental expenses are not covered by an FSA and HSA?
What are the limits on using an HSA for dental expenses?
There is a limit on how much you can spend from your HSA on dental expenses each year. For 2020, the limit is $50 per person or $150 per family.
How do I submit a claim for using my HSA for dental expenses?
To submit a claim for reimbursement from your HSA for dental expenses, you will need to provide documentation of the expenses to your HSA administrator. Documentation may include receipts, bills, or Explanation of Benefits forms from your insurance company.
What are some of the benefits of using an HSA for dental expenses?
Some of the benefits of using an HSA for dental expenses include being able to save money specifically for medical expenses, getting a tax deduction for contributions made to your HSA, and having the money in your HSA grow tax-free.
How much can I contribute to my HSA each year?
For 2020, the limit on how much you can contribute to your HSA is $3,550 for an individual and $7,100 for a family.
How do I know if I am eligible to open an HSA?
To be eligible to open an HSA, you must be enrolled in a high deductible health plan. For 2020, the minimum deductible for a high deductible health plan is $1,400 for an individual and $2,800 for a family.
What happens to my HSA when I leave my job?
If you leave your job, you can keep your HSA and the money in it. You can use the money in your HSA to pay for qualified medical expenses, even if you are no longer enrolled in a high deductible health plan.
Is there a limit on how much I can spend from my HSA each year?
There is no limit on how much you can spend from your HSA each year. However, you will only be able to get reimbursement for qualified medical expenses. Qualified medical expenses are those that are allowed by the IRS. For 2020, some of the qualified medical expenses that can be paid from an HSA include dental expenses, prescription drugs, and long-term care insurance premiums.
What dental expenses are not covered by an FSA and HSA?
You cannot use an FSA or HSA for reimbursed expenses, such as from an insurance plan. The IRS also prohibits expenses for general health or for cosmetic purposes.
Examples include:
- Brushes
- Denture adhesives or creams
- Denture cleaners
- Floss
- Mouthwash
- Nonprescription medicines
- Picks
- Teeth-whitening items or procedures
- Toothpaste
- Vitamins or herbal supplements