health & benefit accounts
Qualified health care expenses
Pay for a wide range of eligible expenses using your accounts Health Savings Accounts (HSAs), Health Flexible Spending Accounts (FSAs) and Health Reimbursement Arrangements (HRAs) are all tax-advantaged, so the IRS defines the types of expenses that you can pay for with these accounts. Generally, qualified expenses include doctor visits, medications, medical equipment, and dental and vision care for you, your spouse and any eligible tax dependents.
Examples of qualified medical expenses Medical Acid controllers Acupuncture Alcoholism treatment Allergy and sinus medicine Ambulance Anti-diarrheals Anti-itch and insect bite Baby rash ointments/creams Birth control Body scans Braille books and magazines Breast pumps and lactation supplies Chiropractor Co-insurance (medical, dental or vision) Copayments Cough, cold and flu remedies Crutches, cane or wheelchair Deductibles Diabetic supplies, insulin Diagnostic services Drug addiction treatment
Fertility enhancements Guide dogs or other service animals Hearing aids and batteries Hemorrhoidal preps Hospital services Laboratory fees Lamaze classes Laxatives Learning disability treatments Mastectomy-related special bras Medical equipment and repairs Medical monitoring and testing devices Medical supplies Menstrual care products Motion sickness Nursing services Office visits Over-the-counter medication/drugs Oxygen Pain relievers (for example, aspirin) Physical exams
Physical therapy Pregnancy tests Prescription drugs Prosthesis Psychiatric care Reconstructive surgery following mastectomy Respiratory treatments Sleep aids and sedatives Smoking cessation (programs/drugs) Speech therapy Surgery Transportation, parking and related travel expenses (essential to receive medical care; subject to IRS limits) Vaccinations Vasectomy Weight loss program and/or drugs (if prescribed by a physician to treat a specific medical condition) X-ray fees
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Examples of qualified medical expenses (continued) Dental Braces Dentures
Exams Extractions
Fillings Teeth cleaning
X-rays
Vision Contact lenses
Examinations and glasses
Laser eye surgery
Reading glasses (over-the-counter)
Eligible Expense Scanner Our barcode scanner takes the guesswork out of what items the IRS considers qualified expenses. Just open the MyHealth mobile app1, select “Eligible Expense Scanner” from the menu, then simply scan the item barcode to find out if it can be paid for using your health account.
Important tips • I f you have a Limited Purpose Flexible Spending Account (LPFSA), remember that it can only be used to pay vision and dental expenses. • I f you have an HRA, check your plan details for specifics on qualified expenses.
For additional information View IRS Publication 502 for a complete list of qualified expenses, and be sure to check for subsequent legislative updates. https://www.irs.gov/forms-pubs/ about-publication-502
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Find tools and resources to help you manage your health care spending. healthaccounts.bankofamerica.com
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If you have questions, please call the number on the back of your debit card.
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Please refer to your employer’s plan description to confirm the qualified expense list available to you. Certain expenses may be subject to stricter scrutiny by the Internal Revenue Service (IRS). In this case, you may have to provide the IRS with substantiation or documentation from a physician that the service or treatment was necessary to treat a specific medical condition and/or that the expense would not have been incurred but for the medical condition. Neither Bank of America nor any of its affiliates provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions. Bank of America, N.A., Member FDIC. © 2021 Bank of America Corporation. All rights reserved. | 3619942 | 06/30/2022