CBD (Cannabidiol) oil and other CBD products are not eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA), limited care flexible spending account (LCFSA) or a dependent care flexible spending account (DCFSA).
Can I buy CBD oil with my HSA account?
Can you buy CBD oil using HSA (Health Savings Account)? You can use your HSA funds for qualified out-of pocket medical expenses. As long as they are qualified expenses (as defined by the IRS), they are 100% tax-free. You can also request a doctors note or medical letter of necessity.
Does HSA cover CBD oil?
As of today, if you use your HSA for medical marijuana or CBD, you’ll pay income tax and an extra 20% penalty on any forbidden distributions from your account.
Can you use HSA for supplements?
Generally, weight-loss supplements, nutritional supplements, and vitamins are used for general health and are not qualified HSA expenses. HSA owners usually cannot include the cost of diet food or beverages in medical expenses because these substitute for what is normally consumed to satisfy nutritional needs.
What does my HSA card cover?
You can pay for a wide range of IRS-qualified medical expenses with your HSA, including many that aren’t typically covered by health insurance plans. This includes deductibles, co-insurance, prescriptions, dental and vision care, and more.