Make the Most of Your Remaining HSA/FSA Funds

You’ve worked hard for your HSA and FSA funds all year long. We understand that your health means the most to you. As an answer to that, we offer a selection of 6 HSA/FSA eligible products in our shop.

From thermometers to pulse oximeters, your funds can mean more in-home healthcare products.

Make the Most of Your Remaining HSA/FSA Funds

You’ve worked hard for your HSA and FSA funds all year long. We understand that your health means the most to you. As an answer to that, we offer a selection of 6 HSA/FSA eligible products in our shop.

From thermometers to pulse oximeters, your funds can mean more in-home healthcare products.

Health Savings Account & Flexible Spending Account - The More You Know

What is a Health Savings Account?

A Health Savings Account (HSA) lets you set aside money on a pre-tax basis to pay for qualified medical expenses, excluding premiums. However, you are only able to contribute to an HSA if you have a High Deductible Health Plan (HDHP). 

At 65, you can withdraw funds from your HSA for any purpose without incurring a penalty. If the money is used

for qualified medical expenses, the withdrawal remains tax-free. However, withdrawals for non-medical expenses are generally subject to income tax. Starting at 55, you’re allowed to make an extra contribution of $1,000 annually to your HSA. For 2024, the maximum contribution limit is $4,150 for individuals with self-only coverage and $8,300 for those with family coverage.

Check with your employer if you have any further questions regarding your HSA..

What is a Flexible Savings Account?

A Flexible Spending Account (FSA) is a special account into which you deposit money to pay certain out-of-pocket health care costs. You don't pay taxes on these funds.

Your employer can also contribute to your FSA fund, but they aren’t required to. 

To use your account, simply submit a claim to the FSA (through your employer) with proof of the medical expense and a statement that it has not been covered by your plan. You will then receive reimbursement for your costs.

If you are unsure about anything regarding your FSA account or funds, contact your employer.

What can I spend these funds on?

  • Certain medical, dental, or vision expenses for yourself, your spouse, or your dependents
  • If you have an HSA you might be limited on using the funds for vision or dental.
  • Deductibles
  • Copayments
  • Prescription medications
  • Over-the-counter medications
  • Medical Equipment such as crutches, durable medical equipment (DME), bandages, and diagnostic equipment