Feeling Overwhelmed by your Flexible Spending Account?
If you’re new to the world of Flexible Spending Accounts (FSA) you are probably feeling overwhelmed by all the new information and the decision you will have to make. The good news is that once you understand your FSA it will be easy to manage your money and purchase the right FSA items. More and more employers are choosing to offer Flexible Spending Accounts, so you might as well start learning now.
When you open an FSA, you have the option to set aside part of your earnings for health-related expenses. The money you set aside is actually tax free, so you are saving money and being proactive about your health at the same time. You can use this money to buy all sorts of FSA items from sinus medication to facial cleanser. You would probably be buying these FSA items anyway, why not save money at the same time?
What items are eligible?
You may be worried about which health items are FSA eligible. You are not alone. Many people are unsure of which items to purchase when they first get started with their FSA. Fortunately, most healthcare items are eligible for reimbursement, so choosing the right ones is simply a matter of buying the health products you would usually purchase. This could be cold and allergy medicine, baby care items, digestive health, first aid, family planning, ear/eye care, and even feminine care products—all these FSA items are eligible for reimbursement.
What OTC items do I need a prescription for?
One important change you need to be aware of is that certain changes have been made to how FSA items are reimbursed. Specific over-the-counter medicine now requires a prescription for reimbursement. Items that contain medicine now require a prescription.
Bandages, family planning supplies, condoms, diabetes supplies, athletic treatments, and blood pressure monitors are still eligible for reimbursement with no prescription; however, FSA items such as cold and flu medicine, chest rubs, cough syrup, pain killers, acne treatments will all require a prescription to be reimbursed. Do you think you might need some helping figuring out which is which? You probably will.
Where can I buy FSA items?
A convenient way to purchase FSA items is through an online store. An online store that only sells FSA eligible items can be a wonderful resource if you are unsure which products you want to purchase. One specialty online vendor is FSAStore.com. The experts at FSAStore.com can help you to find and purchase the FSA items you need. You know you have to buy these products, so why not purchase them from a professional? You can also feel confident that you will be able to tell the difference between products that require a prescription and products that do not. Each product at FSAStore.com is clearly marked.
There is no reason to waste your money by having leftover funds in your FSA at the end of the year. Get started ordering your FSA items today. You can visit FSAStore.com or call directly at 1-888-372-1450. FSAStore.com takes all major credit cards and of course your FSA debit card. You can also receive free shipping for orders over $50. Call today!
