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FSA Awareness Month Celebration
FSA Mailbag: Answering your most popular FSA Awareness Month FAQs!
September is FSA Awareness Month here at FSAstore.com, and we are putting our best foot forward to help our customers get the most out of their flexible spending accounts (FSAs). During open enrollment, questions roll in from account holders, and we want our customers to have all the information necessary to make informed health choices for themselves and their families.
Here are a few of the most common questions we've received this year!
1. Am I able to use my FSA card at the pharmacy?
Most of the time. As opposed to traditional debit cards, the IRS does not allow FSA debit cards to be used at every merchant that sells medical supplies and services. In the case of pharmacies, merchants must be equipped with an inventory information approval system (IIAS), which only allows FSA eligible products to be charged to the card, with another form of payment required to purchase all other items. As FSA Store is an IIAS certified merchant, FSA cards almost always work at our site!
2. Is ____ eligible? Can I purchase _____ with an FSA/HSA/HRA?
Ever wondered what's eligible for reimbursement with your FSA? Most pharmacies offer little information about their products' FSA eligibility, which could leave you overspending on items that are eligible for reimbursement. FSAstore.com's Eligibility List is the most comprehensive resource on the web to help you make an informed decision with every purchase -- make sure you check it out before you use your FSA card!
3. How do I check my FSA balance?
In the case of a medical FSA, your available balance will be the total amount you elected for the current plan year minus any prior payments and reimbursements. If you are curious about the current balance of your FSA, you can either call your FSA administrator or may be able to access your balance online through your administrator’s website.
4. How do I submit a claim?
After you've made an eligible purchase or a medical service has been provided, you will need to submit a completed claim with the supporting documents to your benefits administrator (unless you’ve used your FSA debit card to pay). This can be done by submitting paper forms, but many providers now offer mobile- and web-enabled options to submit and process claims quickly. Be sure to keep copies of receipts, Explanations of Benefits, bills, etc. for your records so you can ensure that you will be fully reimbursed for any purchases.
5. Is everything on your website FSA eligible?
You bet! We are the only one-stop shop stocked exclusively with FSA-eligible products and services, so you can avoid the guessing games of pharmacy visits and peruse a selection of more than 4,000 reimbursable items!
Take a look at our FSA-eligible items