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The FSA Eligibility List is a list of tens of thousands of medical items that have been determined to be qualified expenses for flexible spending accounts in the United States. The U.S. Internal Revenue Service outlines eligible product categories in its published guidelines. [ 1 ]
The most common type of flexible spending account, the medical expense FSA (also medical FSA or health FSA), is similar to a health savings account (HSA) or a health reimbursement account (HRA). However, while HSAs and HRAs are almost exclusively used as components of a consumer-driven health care plan, medical FSAs are commonly offered with ...
(September 2024) (Learn how and when to remove this message) A Health Reimbursement Arrangement , also known as a Health Reimbursement Account ( HRA ), [ 1 ] is a type of US employer-funded health benefit plan that reimburses employees for out-of-pocket medical expenses and, in limited cases, to pay for health insurance plan premiums.
The FSA is an employer-sponsored account that allows employees to set aside up to $2,850 in pretax money. When the money is used for eligible expenses, the expense will be tax-free.
The federal CARES Act expanded the list of qualified medical expenses in 2020, meaning products including menstrual care items, over-the-counter medications, and sunscreen are FSA eligible.
Shop thousands of HSA and FSA eligible items, like skincare and glasses, at online retailers, like Amazon and Walmart, to use your HSA dollars before January 1.
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Flexible spending accounts can save tax dollars if you don't let use-it-or-lose-it money go to waste. These FSA-approved items include everyday and COVID-19 essentials.