The money in your HSA can be distributed tax-free up to the amount of the qualified medical expenses that you pay. Qualified medical expenses are amounts you pay for certain types of medical care for yourself, your spouse, and your dependents, but only to the extent such amounts are not covered by insurance or another health plan.

You have many options. Not only can you pay for your health insurance deductible from your Health Savings Account, but can use it for doctor visits, prescriptions, and over-the-counter drugs, dental care, eyeglasses, chiropractic services, and much more. Complete information on eligible expenses is available at www.irs.gov (search for “Publication 502”). You are responsible for determining whether a cost is a qualified medical expense.