HSA: Health Savings Account for Egg Freezing
Are you thinking about freezing your eggs in the next year? Want to save money?
Did you know that you can use your HSA to help pay for it? An HSA is also known as a health savings account. Your company may offer it as a tax-free- account to help pay for medical expenses, including freezing your eggs, IVF & Medication. Eligible expenses may include egg storage, egg donor costs, infertility monitors, in-vitro fertilization, and sperm washing. If you don't decide to freeze your eggs- an HSA can also be used to buy tampons, pads, and medication from the drugstore.
You can also use your HSA to pay for eligible health care, dental, and vision expenses for yourself, your spouse, or eligible dependents
The HSA contribution limits for 2023 are $3,850 for self-only coverage and $7,750 for family coverage
A lot of times if your company/employee offers it, you can automatically move over the money before your paycheck hits your bank account.
While the process of freezing your eggs can become expensive, I also discuss other ways to save money with my clients. There are certain things to consider when beginning the process that can save you LOTS later.
Here is a link to an article from Cigna that lays out things you may purchase Tax-Free
