Your health spending account with myHSA is one of the most valuable tools in your benefits package. Not only does it help cover essential health-related expenses, but it also does so tax-free, saving you money while supporting your well-being. However, to get the most out of your HSA, a little planning can go a long way. Here’s how you can plan your annual spending to maximize your benefits and make your healthcare more affordable.

1: Understand Your HSA Balance and Rules

Start by checking your account balance and reviewing the eligible expenses using the myHSA app. Most HSAs plans use an annual allowance design and will also have parameters regarding reserve and carryover balance

(see what that means here) . Knowing your distribution schedule, whether you get a monthly allowance or have access to the full balance at the start of the plan is the first step to smart planning.

2: Track Your Healthcare History

Take a look at your past healthcare expenses. How much did you spend on routine medical visits, prescriptions, or dental care last year? Identifying patterns can help you predict your costs for the year ahead and ensure you allocate funds effectively.

3: Anticipate Upcoming Health Needs

Consider any planned or potential healthcare expenses. Some examples of common expenses include:

Dental cleanings or orthodontics Vision exams or new glasses

Prescriptions or medical equipment Physiotherapy or Chiropractic care

Some plans will include coverage for dependents, (be sure to check this on your “Plan Details” tab in the myHSA app) so be sure to consider these other potential expenses when doing your planning.

4: Budget for Wellness Goals myFlexplan allows employees to address health and wellness by adding a wellness spending account option. If you have myFlexplan , you can decide how to allocate your funds between your HSA and WSA. Examples of eligible wellness expenses include:

Fitness programs or gym memberships Holistic/Alternative medicine practitioners

Veterinary care Health subscription apps

Investing in preventive care can reduce future healthcare costs while keeping you feeling your best.

Eligible wellness expense items are unique to each individual employer. Be sure to check the “Covered Items” tab in the WSA section of the myHSA app to see your eligible wellness expense items. Wellness claims are also a taxable benefit.

5: Set Aside Funds for the Unexpected

While you can’t predict everything, setting aside some of your HSA for unplanned expenses—like sudden illness or injury—can provide peace of mind. Knowing you have a financial cushion for unexpected healthcare needs makes it easier to stay on budget.

Use Tax-Free Dollars Strategically — To maximize your tax-free savings, prioritize paying for eligible expenses with your HSA rather than out-of-pocket. This approach reduces your taxable income, which means more savings overall.

7: Keep an Eye on Deadlines

If your HSA has a deadline for claims submission, mark it on your calendar. Submitting expenses in time ensures you don’t miss out on reimbursements. Plan designs can include a grace period where employees are able to submit claims from the previous year, but this period can vary, so be sure to check the details of your plan with the myHSA app to find out when your claim submissions must be submitted in order to be reimbursed.

A Year of Smart Healthcare Spending

By planning your annual spending, you can take full advantage of your HSA’s tax-free benefits. Whether you’re covering routine care, tackling unexpected expenses, or working toward wellness goals, a thoughtful approach ensures your account works harder for you.