There are many ways to use a Health FSA. Some of the places might surprise you.
The FSA Store
The FSA Store is one of the best places to buy items with your Health FSA. It’s the one stop shop for eligible expenses. From sleep assistance to medical braces and support to kid friendly items, find what you need across the different categories. Start browsing.
Box store retailers
There are many eligible items at larger retailers like Target, Walmart and Costco. (Just to name a few). When you get to the register, the store’s payment system will identify eligible items from your purchase and pull the correct amount from your FSA.
National and regional pharmacy chains
CVS and Walgreens are two great examples of chain retailers who offer a host of common eligible items. Visit CVS or Walgreens online to search and purchase products related to eye-care, pain relief, family planning and more eligible items.
Your local pharmacy
If you are picking up a prescription at a local pharmacy, as long as your pharmacy is listed as a merchant, (IIAS or 90%) your Health FSA should be accepted. Learn more about Merchant Category Codes here. If your card is not accepted by the Merchant, you can still use your Health FSA. You will just need to submit a receipt with a claim. You can easily do this online or with the BRiMobile app. See our walk-through on how to submit claims.
Your Health FSA can be used to pay for visits that aren’t covered by insurance or are only partially covered by insurance. However, the procedure or visit must have been for a non-cosmetic reason. So no whitening, veneers or tooth paste. But mouth guards and fluoridation services are a definite yes.
There is one important piece of information to know before using your FSA card at the dentist. You will almost always need to submit either a receipt describing the service, or the Explanation of Benefits documentation that will arrive from your insurance company after the service is provided.
Why? Check out the graph in our blog What is substantiation and why is it required?
The eye doctors
Your Health FSA can be great for paying any expenses not covered by insurance. This includes contacts, contact lens solution, some eye drops. Additionally, eye-related surgeries like Lasik may also be considered eligible services.
Alternative therapy specialists
From acupuncture to physical therapy and medical massages, non-standard visits can be reimbursed from your Health FSA. Many of these “alternative therapy” providers and locations offer dual purpose services (examples include massage and aroma therapy goods and services), so your if you have an FSA card, it will not function there.
However, you should plan to fill out a Letter of Medical Necessity (sometimes also called a Certification of Medical Necessity) in order for these services to be eligible. Read our blog: What is a letter of medical necessity (LMN)?
And last but not least, the surprise category. Amazon announced in early May that it will allow eligible purchases made on its site to be paid from a Health FSA or Health Savings Account. (Browse FSA eligible products here).
Buying eligible products comes with a bonus: the shipping and handling fees are also considered eligible expenses. According to guidelines from the IRS, “Shipping and handling fees incurred to obtain an item that constitutes medical care (e.g. drugs or medicine) are inextricably linked to the cost of the medical care and therefore qualify”.
There you have it! The 8 best places to use your Health FSA Card. Which places are you most likely to use your card?
If you enjoyed this article, you might also like:
For more guidance on simplifying the complexity of benefits for maximum savings and peace of mind, subscribe to the Benefit Resource Blog today.
The above list is intended for general informational purposes only. In many cases, you must meet certain requirements and/or obtain a letter of medical necessity to qualify for reimbursement of these items. Always verify the requirements prior to submitting a claim. BRI participants may verify eligibility of an item through the Eligible Expense Look-up table once logged in through BRiWeb.