Can You Use HSA For Breast Pump Buy?
Like other new or expecting mothers, you might not be aware of the full extent of the potential coverage provided by your medical savings accounts.
Understanding what is covered by Health Savings Accounts (HSA) may ease the financial burden of the breastfeeding journey. And enable you to continue giving breast milk to your baby for longer after birth.
Allowing your child to continue receiving the health benefits of breast milk feeding and continuing to enjoy these priceless family time together, doing so can be wonderfully healthful.
Health Savings Account (HSA)
You may save money on nursing supplies without clipping coupons or waiting for sales. If you are qualified to open a Health Savings Account (HSA), you may make pre-tax contributions to your account and utilize the money for authorized medical expenses, like supplies to aid with breastfeeding your child.
Not only will your HSA contributions be tax deductible, which lowers your taxable income for the calendar year, but you will also be able to make purchases using tax-free money.
Eligibility of HSA
To start an HSA, you must have a health insurance plan with a high deductible. The IRS establishes the deductible threshold for HSA eligibility, and it may vary from year to year. Your deductible must be at least $1,400 for an individual health insurance plan and $2,800 for a family health insurance plan in order to be eligible in 2021.
While many people enroll directly through the federal Health Insurance Marketplace, others do so through their employment. If the plan’s deductible is high enough, people with either type of health insurance may be able to open an HSA.
Expenses covered in Health Savings Accounts (HSA)
Your HSA should pay for a lot of breastfeeding supplies. You can utilize HSA funds for both one-time purchases of breastfeeding supplies, such as a pumping bra or a silicone breast pump, or a breastmilk collector, as well as ongoing expenses, such as disposable nursing pads and breastmilk storage bags.
Additionally, you ought to be able to purchase a breast pump with HSA funds. Although your health insurance should cover breast pumps and breast pump accessories. Many women find it convenient to have a second wearable breast pump to leave at work. You’ll save money because you’ll be using pre-tax money, so it might be worthwhile to pay for the convenience in your life.
Use of HSA to buy breast pumps
Without a prescription from a doctor, you can use money from your HSA to buy breast pumps and accessories. An HSA can occasionally be a second source for purchasing the nursing supplies you require. Even if it can only be used if you have a qualified high-deductible health plan.
Backup Breast Pumps
Thanks to the ACA, breast pumps are completely covered by health insurance in the United States. However, only one pump per birth is often covered. Pumps are fortunately also HSA/FSA eligible. So you won’t have to carry your primary pump back and forth. You may use some of your money to buy a second pump to use at work.
For road trips and other situations where a breast pump malfunction would leave you swollen and in need of a backup. You could purchase a stylish, portable pump like the Elvie Stride or a manual pump.
Upgraded breast pumps
Some luxury breast pumps, such as the Elvie Pump or the Spectra S1, are not fully covered, despite the fact that most of them are. You can upgrade to a premium pump with your FSA/HSA card if your insurance doesn’t fully cover it.
Extra pump parts
It never hurts to have extra parts on hand for your pump in case one gets lost in the wash or stops functioning properly. Breast pump parts are covered by FSA/HSA, and replacing components like tubing, valves, membranes, and nipple shields can extend the life of your pump and ensure pleasant pumping.
Can you use your HSA to purchase multiple breast pumps?
Yes, you can use an HSA to purchase numerous breast pumps. However, you are limited to using your HSA for medical costs that the IRS has approved. The following are only a few examples of qualified medical expenses: doctor visits, hospital stays, prescription drugs, and nursing supplies.
FAQs
Q1: Are pumping bras covered by HSA?
You can utilize HSA funds for both one-time purchases of breastfeeding supplies, such as a pumping bra or a silicone breast pump, or a breastmilk collector, as well as ongoing expenses, such as disposable nursing pads and breastmilk storage bags.
Q2: What supplies for breastfeeding are covered by HSA?
The HSA covers a wide range of breastfeeding supplies, including but not restricted to:
- A breastmilk collector
- A pumping bra
- Disposable nursing pads
- Bags for storing breastmilk
Q3: Are diapers HSA eligible?
Dependent care flexible spending accounts (DCFSA), limited-purpose flexible spending accounts (LPFSA), health savings accounts (HSA), health reimbursement arrangements (HRA), and flexible spending accounts (FSA) do not provide payment for diapers (LPFSA).
Q4: Does HSA make sense during pregnancy?
Many of your postpartum care medical costs, including breast pumps and supplies, may be covered by your HSA. Additionally, they pay for your kids’ medical treatment bills, rash cream, thermometers, and other health-related additional costs.
Reference:
https://marketplace.cms.gov/outreach-and-education/health-savings-account.pdf