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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 ]
A flexible spending account (FSA) is a tax-advantaged way to pay for medical costs, including services and health-related items. One downside of these accounts is that they are "use it or lose it
Another FSA feature that was introduced in 2003, is the ability to pay for over-the-counter (OTC) drugs and medical items. [22] In addition to substantially expanding the range of "FSA-eligible" purchases, adding OTC items made it easier to "spend down" medical FSAs at year-end to avoid the "use it or lose it" rule.
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.
Prescription drugs are usually not in the main scanner database (though they may be made scannable by tying the pharmacy system into the scanners), but they are almost always FSA-eligible; therefore, the pharmacy department is often categorically flagged as FSA-eligible, the only department to be so treated. (In contrast, multiple departments ...
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If you're not shopping directly in the FSA and HSA storefront, there's a helpful "FSA or HSA eligible" label right on the product. Shop our favorite FSA-friendly items below and don't let a penny ...
Health Savings Accounts vs. Health Reimbursement Accounts vs. Medical Savings Accounts vs. Flexible Spending Accounts – helpful PDF chart comparing these, but has not been updated since 2005; Commentary/Commentaire: It's time to consider Medical Savings Accounts, David Gratzer, CMAJ, July 23, 2002; 167(2).