While you can't use your FSA for insurance premiums, you can use it for copayments, coinsurance, deductibles, prescription medications, and dental and vision care, according to the IRS. FSAs can also be used toward medical equipment and treatments such as: Medicines prescribed by a doctor.

What is covered under a flexible spending account?

An arrangement through your employer that lets you pay for many out-of-pocket medical expenses with tax-free dollars. Allowed expenses include insurance copayments and deductibles, qualified prescription drugs, insulin, and medical devices. You aren't taxed on this money. ...

What expenses are FSA eligible?

Eligible expenses include health plan co-payments, dental work and orthodontia, eyeglasses and contact lenses, and prescriptions. This type of FSA is offered by most employers. It covers medical, dental, vision, and pharmacy expenses. If you have a Standard FSA, you are ineligible for contributing to an HSA.

Can you use FSA for out-of-pocket expenses?

A Medical FSA also allows employees to save pre-tax funds to pay for eligible out-of-pocket medical expenses. ... As an employer, you can maximize your FSA offering, by allowing up to $500 of unused FSA funds to roll from year-to-year.

Can I use FSA for anything?

What can you buy with your FSA money? You can use FSA dollars to pay for medical expenses that aren't covered by a health plan, like co-pays, deductibles, dental and vision care, or dependent daycare, though eligible expenses can vary based on the plan. ... If they're somehow not, you get your money back.

New HSA & FSA Eligible Expenses | Healthcare Items to Buy Right Now

44 related questions found

Is toilet paper FSA eligible?

Toiletries: FSA Eligibility

Toiletries can describe anything from oral care items like mouthwash, toothbrushes, toothpaste and floss to hair products like shampoo and conditioners; bathroom products like toilet paper; feminine care like tampons and pads; cotton swabs and fingernail clippers, and more.

Are toothbrushes FSA eligible?

General health items such as toothbrushes are not eligible for reimbursement from a health FSA because they would be used even if there is no recommendation from a dentist.

Can I use FSA to pay off old medical bills?

Can I use my Health Care FSA to reimburse outstanding medical expenses from the prior year? No, expenses must be incurred during the current plan year. The only exception to this rule is orthodontics.

Can I use FSA for massage?

Using an FSA or HSA can be an easy way to save money on therapeutic massage. Massage can be a qualified medical expense as long as a doctor recommends it with a written prescription. ... If you don't have a FlexCard, simply pay for your massages and turn in your receipts according to your policy for reimbursement.

What can FSA be used for 2021?

The 2021 Healthcare Flexible Spending Account contribution limit is $2,750. Contributions made to an FSA are not subject to taxes. FSA funds can be used to cover medical expenses, including deductibles, copays, over the counter medications, prescriptions, and other related medical costs.

Can you pay for gym membership with FSA?

A flexible spending account (FSA) allows employees to use pre-tax dollars out of their paychecks to cover qualified health expenses. Gym memberships and exercise classes, like Pilates or spinning, are not covered by FSAs.

Is baby monitor FSA eligible?

What are the benefits of using FSA/HSA approved baby monitors? ... Keep in mind that baby monitors fall under two types of categories to make them eligible for FSA or HSA spending and tax benefits. One is Baby care (Postpartum) and under the category of Health monitors (Breathing & Pulse monitors).

Are tampons FSA eligible?

Feminine hygiene products.

You can now use your FSA dollars to buy pads, tampons, liners and even disposable and non-disposable period panties. You can also purchase alternative period products like menstrual cups and the Flex Disc.

Are vitamins FSA eligible 2021?

If your doctor has prescribed you specific supplements, you will need to fill out a letter of medical necessity (LMN) in order to use your FSA to make this purchase. Otherwise, vitamins and supplements are not considered an eligible expense and your card will be rejected.

Can you use FSA for Botox?

The short answer is: no, it can't. Money in an FSA or HSA does not cover cosmetic treatments. If you are getting Botox for a medical indication, such as migraine headaches, then you can use the money in your HSA for Botox. But cosmetic treatments are not eligible.

Does FSA cover baby wipes?

That's where your HSA or FSA comes in. ... Accessories like breast pumping bras and nursing wipes and pads are also available via your FSA or HSA.

Is Apple Watch FSA eligible?

Cheers! Apple Watches are not considered medical devices and therefore cannot be bought with FSA funds.

Can I use my FSA for teeth whitening?

Funds from a flexible spending account (FSA) cannot be used for teeth whitening expenses. The U.S. Internal Revenue Service (IRS) specifically excludes various medical expenses spent on unnecessary cosmetic procedures, such as teeth whitening, in IRS Publication 502.

Can I use FSA for chiropractor?

An FSA is a medical savings account. If you have a health plan through your employer and they offer an FSA, you can use your Flexible Spending Account (FSA) to pay for copayments for doctor visits, prescriptions, and other health care costs, including chiropractic care.

What happens to unused flex spending money?

Money left unused in your FSA goes to your employer after you quit or lose your job unless you are eligible for and choose COBRA continuation coverage of your FSA.

CAN 2021 FSA be used for 2020 expenses?

The grace period to use 2020 DepCare FSA funds will be extended through Dec. 31, 2021. This means you can use the money you contributed during 2020 for eligible expenses you incur in 2020 and in 2021.

What can I do with unused FSA funds?

What Can You Do with Forfeited FSA Funds?

1. Option 1: Reimburse administrative expenses.
2. Option 2: Reduce FSA fees for the following plan year.
3. Option 3: Add to your employees' FSA coverage.
4. Option 4: Return the funds to employees in cash.

Can I buy a treadmill with my FSA?

A treadmill can be eligible for reimbursement with a Letter of Medical Necessity (LMN) with a flexible spending account (FSA), health savings account (HSA) and health reimbursement arrangement (HRA).

Is hand sanitizer covered by HSA?

As tax-deductible expenses, the amounts paid for PPE are also eligible to be paid or reimbursed under health flexible spending accounts (health FSAs), health savings accounts (HSAs) or health reimbursement arrangements (HRAs). ...

Can you buy mouthwash with FSA?

Mouth Wash: FSA Eligibility

Mouthwash may be analgesic, anti-inflammatory, anti-fungal, or just antiseptic. ... Mouth wash that is purchased Over-the-Counter (OTC) as a normal personal use product is not eligible for reimbursement with any consumer-directed healthcare account.