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Make Those Last-Minute FSA Buys This Weekend!

12/28/12

  05:12:33 pm, by MedBen5   , 235 words,  
Categories: News, Wellness, Health Plan Management

Make Those Last-Minute FSA Buys This Weekend!

Got plans for the weekend? If you’re a MedBen Health FSA member, we’d like to suggest the following itinerary:

  1. Visit MedBen Access and select “FSA/HRA Online Inquiry” to check your current account balance. (Alternately, you can go directly to the FSA/HRA Online System to get this information.)
  2. Still got some funds remaining? Well, you’ve only got a few days remaining until 2012 wraps up… so it’s time get out of the house and do some medical supply shopping!

Because FSA funds can’t be carried over from year-to-year, you’ll want to empty out your account before the ball drops in Times Square. Fortunately, there are a variety of medical products you can buy with your leftover – and, tax-free – FSA dollars. These include, but are not limited to:

  • Eyeglass frames and reading glasses
  • Contact lenses and saline solution
  • Denture adhesives
  • Bandages and gauze pads
  • First aid kits
  • Blood-pressure monitoring devices
  • Nicotine gum or patches

To see a complete list, visit the IRS-eligible Expenses page at MedBen.com.

Those of you who are veteran FSA last-minute-spenders recall that the task was even easier when over-the-counter medications were considered qualified expenses. But the 2010 passage of the Affordable Care Act removed aspirin, ibuprofen cough syrups and other OTCs from the “approved” list – though you can still purchase these with a doctor’s prescription. Insulin and syringes are exceptions to this requirement.

Happy New Year… and happy shopping!

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