Fsa eligible expenses 2022 pdf10/23/2023 They may not be the most glamorous purchases you’ll ever make, but it beats leaving your money behind. You save on every dollar your employees contribute. Employer savings A healthcare FSA decreases your total payroll costs, reducing the amount of taxes you pay. KN95 masks and home COVID tests are also eligible, and you’ll definitely want those on hand during the winter “triple demic” of COVID-19, flu and respiratory syncytial virus, or RSV.īroadly, just about anything you’d need to restock a medicine cabinet - a first aid kit, bandages, allergy medicine, heartburn treatment, antibiotic ointment, pain relievers, contact solution - can be purchased with your flexible spending account. You can help your employees manage their out-of-pocket healthcare expenses by offering the Humana Access ® healthcare flexible spending account (FSA). Buy that stuff ahead of time - though you should avoid stockpiling kids’ medicines right now, while short supplies are making life difficult for the children who really need them. But when you’re sick, the last thing you want to do is haul yourself out to the store for painkillers, cough medicine, a steam inhaler or a humidifier, a thermometer and some electrolyte powder. With COVID-19, flu and RSV cases rising, drugmakers and retailers say soaring demand is leading to empty shelves. If you forget to bring your FSA card, save the receipt and contact your plan administrator about getting reimbursed.Ĭalifornia As flu surges, L.A. (That site even has a “surprisingly eligible” section.) If you’d rather shop in person, most stores that sell FSA-eligible items will let you swipe your FSA card first at checkout, and those items will automatically be paid for that way. There’s also, which - as you may have surmised from the name - only sells things you can pay for with an FSA card. Lots of sites have FSA-specific pages, including Amazon, Target, Costco, CVS, Rite-Aid, Walgreens and Wal-Mart. Whatever you don’t spend will be forfeited. If your employer didn’t choose one of those options, you’ll need to use up your remaining balance by Dec. Email your company’s human resources person or benefits administrator and ask if you’re eligible to do either of those things. Your employer can opt to let people roll over up to $570 into next year or to give them an additional 2.5 months at the start of 2023 to use up their accounts. What about rolling over unspent FSA dollars into 2023, or having a grace period to spend them? Well, that depends on your specific plan. But you can also use it to restock your medicine cabinet, prepare for the “triple demic” winter, and even pick up some fun and surprising things you might not know about. The catch, though, is that you can spend that money only on qualified medical purchases, such as co-pays, prescriptions and doctor’s bills. The maximum you could contribute to a tax-exempt flexible spending account this year was $2,850. So why not buy something that’ll make your life a little better in 2023? But if you have money left over in your healthcare flexible spending account, you’ll lose it soon unless you spend it on something. “Fun” and “spending pre-tax savings before the end-of-year forfeiture deadline” aren’t two things that usually go together.
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