As the 2024 year draws to a close, it’s time to make the most of your Health Savings Account (HSA) or Flexible Spending Account (FSA) funds. These accounts offer tax advantages for qualified medical expenses. In general, you must use the money in a Flexible Spending Account (FSA) within the plan year. However, your employer may offer a grace period or allow you to carry over funds. However, HSA can be used now, next year or even when you’re retired. Here are some smart ideas for your FSA or HSA spending account:
Health and Wellness
- Prescription Medications: Stock up on any necessary medications.
- Over-the-Counter (OTC) Medications: Purchase pain relievers, allergy medications, cold and flu remedies, and more.
- Medical Supplies: Consider buying bandages, first aid kits, thermometers, or blood pressure monitors.
- Dental Care: Schedule cleanings, fillings, or other dental procedures.
- Vision Care: Get new eyeglasses, contact lenses, or eye exams.
- Hearing Aids: If you need them, purchase or get repairs for hearing aids.
- Gym Memberships: Many gyms accept HSA/FSA funds for memberships.
- Fitness Trackers: Devices like Fitbits and Smart Scales can help you stay healthy.
- Mental Health Services: Therapy sessions, counseling, or psychiatric medications can be covered.
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RECOMENDED: Hume Health Smart Body Pod
Body composition scales (or bioimpendance scales) are considered to be medical devices and are HSA/FSA eligible expenses, unlike regular digital scales
The Hume Health Smart Body Pod is the ideal smart scale as it reads over 56 different metrics in the body! Weight is really just a meaningless number without the full picture and this smart scale ‘scans’ the body and gives you readings such as body fat percentage, muscle mass, bone density, hydration level, body salt content, and SO much more. You can even see how much muscle and fat you have per APPENDAGE!
Watch the Review here:
Save an Additional 15% OFF the Hume Health Smart Body Pod Monitor with code: BOREDMOM
Home and Family
- Medical-Grade Air Purifiers: Improve indoor air quality.
- Home Exercise Equipment: Treadmills, ellipticals, or weight sets can be used for home workouts.
- Diapers and Baby Supplies: If you have a baby, purchase essentials.
- Feminine Hygiene Products: Menstrual products like pads and tampons can be covered.
- Sunscreen and Insect Repellent: Protect yourself and your family from the elements.
RECOMMENDED: Morento Air Purifier
Air purifiers may be eligible for reimbursement with flexible spending accounts (FSA), health savings accounts (HSA), and health reimbursement accounts (HRA) with a Letter of Medical Necessity (LMN). In order to qualify, the primary purpose of the air purifier must be for treatment, diagnosis, mitigation or cure of a medical condition or disease and the air purifier must not be purchased but for that primary purpose. Air purifiers are not eligible for reimbursement with a limited purpose flexible spending account (LPFSA) or a dependent care flexible spending account (DCFSA).
The Morento Air Purifier is a reasonably priced HEPA Air Purifier that is very powerful. It has a dual side air intake (vs most just have one) and the MORNETO HY4866 air purifier is equipped with an infrared PM2.5 sensor, which will monitor the air quality in real time and feed it back to the display screen!
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There’s currently a $30 Off On-Site Coupon for the MORENTO HY4866! Shop the Morento Air Purifier Here
Other Eligible Expenses
- Fertility Treatments: Certain fertility treatments and procedures may qualify.
- Breast Pumps and Accessories: For breastfeeding mothers.
- Medical Transportation: Costs associated with getting to and from medical appointments.
- SOME Supplements! Most vitamins and supplements are not eligible for HSA or FSA use because they are considered general health items and not directly treating a medical condition. However, there are some exceptions.
HOWEVER, you can use a Health Savings Account (HSA) or Flexible Spending Account (FSA) to purchase glucosamine chondroitin and Prenatal vitamins.
RECOMMENDED: Nutraharmony Glucosamine Chondroitin
Glucosamine and chondroitin are supplements that are commonly used to treat joint paint and osteoarthritis and are HSA/FSA approved! I love the convenient Nutraharmony Glucosamine Chrondroitin combo supplement because it’s a quality product at a fair prince – and best of all it’s a gentle gel cap that is EASY to take – not a huge horse pill!
Watch the Review Here:
Shop the Nutraharmony Glucosamine Chondroitin Here
Remember:
- Use it or lose it! Don’t let your funds expire.
- Research: Explore the full range of HSA-eligible expenses, including mental health services, childbirth expenses, and more.
- Plan ahead: Consider your upcoming healthcare needs and budget accordingly.
Always check with your insurance provider or HSA/FSA administrator to ensure that the items you want to purchase are eligible for reimbursement. By planning ahead and taking advantage of these tax-advantaged accounts, you can save money on qualified medical expenses.
There are affiliate links in this article. Should you purchase something from this page I will get a small fee that will help support my blog.
