September FSA Mailbag! Recapping your best Learning Center questions
Each month, we receive hundreds of great questions from our customers about everything relating to FSAs in ourFSA Learning Center. This past August, we received a bunch of fantastic questions relating to FSA product eligibility, deadlines and more, that could help you see your flexible healthcare account in a new way.
If you have a question of your own, feel free to drop by and ask a question and we'll respond ASAP!
"Who is considered a dependent on my FSA?"
An FSA dependent can include the account holder's spouse, a dependent who you claim on your tax return or your adult children up to the age of 26.
"Can I use my FSA card for someone else?"
FSA funds can only be used by the account holder, his/her spouse and qualified dependents that are named on the account. To determine if someone is a qualified dependent, contact your FSA Third Party Administrator, whose information can typically be found on the back of an FSA debit-card or by contacting your HR department.
"Can I use my FSA card to rent mobility equipment, like a scooter?"
Even in the case of equipment rentals as opposed to a full purchase, a scooter rental is a qualified expense. However, this is only the case if your mobility is impaired because of an illness, injury, or other physical condition.
"I would like to order contacts - I have money in my FSA - do I have to pay out of pocket first or can it come out immediately from my account?"
If you visit our Optical Store, you can make a purchase directly with your FSA card. You can also pay with a credit/debit card if you so choose at our store or others, but then you will have to submit a claim for reimbursement with your benefits administrator.
"Does my FSA plan have a "carry over" option?"
Plans can allow one or neither of two options that can provide relief for FSA users. The first is a $500 rollover which allows FSA users to move up to $500 of their current plan year balance into next year's plan year account, sometimes called a "carry over." The other option is a 2.5 month grace period to give account holders more time to spend down their remaining FSA funds. To find out if either of these regulations are in place with your account, contact your benefits administrator whose information can be found on the back of your FSA card.
"Can I use my FSA to pay for exercise programs?"
FSAs can only be used to cover weight loss expenses if the weight gain is tied to a specific medical condition or if weight loss is medically required for a specified condition. Gym memberships, exercise equipment and other products/services that aid in weight loss require a Letter of Medical Necessity (LMN) from a physician that outlines how the product/service will be used to alleviate the condition.
To maximize the potential of your FSA funds with more than 4,000 FSA-eligible products, shop at FSAstore.com! Support your family's wellness year-round and get the most out of your flex dollars!