'Tis the Season for FSA Eligible Products!
FSA Eligible Products
The holidays are just around the corner! And, if you have a Flexible Spending Account (FSA), you know how busy this time of the year is. You are likely looking to spend down your FSA before your plan year ends (check with your FSA administrator about your plan) on December 31st - that's only 2 weeks away, by the way! But do you know how many products are FSA eligible? Are you aware that your FSA funds can buy sunscreen, heat wraps, an ear thermometer, and even reading glasses?
Wall Street Journal journalist, Anna Prior, recently discussed what medical expenses qualify (or don’t) for FSA spending.
Examples of qualified expenses:
- Bandages, glasses and contacts, athletic treatments, blood pressure monitors. Certain over-the-counter medicines require a prescription to be reimbursed under an FSA.
Expenses not qualified:
- Gym memberships, weight loss programs, and teeth whitening.
FSA Service examples:
- Many medical services are FSA eligible as long as the procedures are necessary medical treatments (not cosmetic).
Shopping at FSAstore
If you want to find FSA eligible products, then take a look at FSAstore.com. FSAstore is a one-stop-shop exclusively carrying FSA eligible products. Through the FSA Eligibility List, you’ll find which products require or don’t require a prescription.
End of 2012 Reminder:
Because of the “use it or lose it” rule, you will lose any funds you don’t spend by the end of your FSA plan year. Instead of forfeiting your money, scan different FSAstore.com categories for products you need. Start shopping now for New Arrivals or look through our Best Selling items!