![]() ![]() “If an FSA holder incurs a qualifying medical expense, they can usually use an FSA debit card to access their funds to pay for it, or they can pay for it out of pocket and be reimbursed by submitting a claim after.”Īn FSA is typically managed by a third-party administrator (which can be a company’s human resource department), and FSA holders often have access to keep track of their balances, deadlines and other important FSA information through an online account. “An FSA is a tax-advantaged spending account that allows eligible employees to set aside money from their pay before taxes to spend on qualified medical expenses,” Rouleau explained. “The IRS defines eligible expenses for FSAs, and the list includes a wide variety of medical products and services, including co-pays, costs associated with medical procedures, everyday health and wellness items and much more.” How does FSA work? Pre-tax payroll dollars to pay for qualified medical expenses,” Rouleau said. ![]() “An FSA is an employer-sponsored benefit that allows employees to set aside “The FSA Store and HSA Store carry more than 2,500 IRS-eligible products that people buy every day.”Ĭlick to jump to the best FSA & HSA Store items: “You would be surprised at all the ways you can spend your FSA and HSA dollars,” Rachel Rouleau, chief compliance officer at Health E-Commerce, the parent brand to the FSA Store and HSA Store, told the New York Post. We recommend the best items to shop for, too. You’ll be the most brilliant product hunter this year, too, thanks to our two FSA Store and HSA Store experts we turned to for this all-in-one explainer. While 2023 just begun and we’re not thinking about deadlines quite yet, it’s always a good idea to keep use-it-or-lose-it stock-ups on first-aid supplies, OTC medications and more, in mind.Īdditionally, it’s important to understand all the ins and outs of the FSA (flexible spending accounts) and HSA (health savings accounts) programs so you can shop smarter. Sure, we love shopping for gifts and the best deals, but we love spending our hard-earned FSA and HSA dollars even more. The 14 best and *warm* snow boots for women to buy for the winter, with tips from a ski expert The 27 best men’s pajamas of 2023: Pants, shorts and sets for ultimate comfort Stay warm, cute and comfy with the best puffer jackets for women in 2023 Hit the trails in style this year with these 28 hiking styles for women ![]()
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