Back-to-School with FSA

August can be a busy month for many families getting back into their regular Back-to-School routine.  But just as school supplies, new clothes, and sporting equipment are important to start off the new school year, so is planning ahead to use end-of-year Flexible Spending Account (FSA) funds.  Use up the pre-tax benefit dollars by spending them on common health care expenses that come up in the fall.  The FSA can provide a source of financial relief for the must-have items every family needs to stay healthy during the Back-to-School season.

Fall is one of the best times to get yearly checkups done and paid for by using FSA dollars.  Check out a few below:

  • Yearly & Sports Physicals – make it a habit to keep up these standard checkups for all family members. Keeping all members of the family healthy is important.  For kids heading back to school or getting ready to play sports, these annual exams are necessary to assess their health and physical well-being, while building up their medical history and gathering the paperwork needed to ensure that they are up-to-date on state-required vaccines. 
  • Dental Exams & Orthodontia – taking good care of oral health is important, but can be expensive. Use FSA dollars to help alleviate the burden of paying for dental exams, braces, bridges, and other forms of orthodontia for growing kids. 
  • Eye Exams & Corrective Eyewear – another great checkup for all family members are eye exams. Having a hard time seeing can hinder a child’s learning or a parent’s work performance.  Along with the eye exam, corrective eyewear, such as glasses or contact lenses, supplies and solutions, are available to purchase with FSA dollars.

Needing some last minute eligible expenses to purchase with FSA dollars?  A few are listed below. 

  • Band-Aids – cover up all types of cuts and scrapes with FSA-eligible bandages (non-medicated).
  • Allergy Relief – going Back-to-School may mean back to pesky allergy season. Grab relief in the form of tablets to sprays and throat lozenges.  (Must be doctor prescribed). 
  • Wax for Braces – braces can be extremely uncomfortable, but buying wax for braces can help stop irritation.
  • Thermometers – sick days are bound to happen, but stay on top of all family health issues this fall and winter with a preferred device.
  • Acne Relief – acne is a major issue in the teen years. With a prescription, teenagers can fight those embarrassing, pesky breakouts. 
  • Copays – every time an appointment is made, whether it’s a physical, dental exam, or for an illness, use FSA funds to pay the copay.

Curious about what other items could be considered eligible expenses?  Check out IRS Publication 502.  For more information on the 125 Cafeteria Plan Flexible Spending Account, call BASE® at 1-888-386-9680.

Purchase Eligible Health Care Expenses with Health Shopper

Giving employees the option to use pre-tax dollars through an employer’s custom benefits plan to purchase health care products is a tax savings benefit to all in the business.  Sometimes it can be unclear which health care products are eligible under Code 213(d) that allow employees to use their pre-tax Health Savings Account (HSA) and Flexible Spending Account (FSA) dollars.  But that ends today.

BASE® is providing a new way to shop online for eligible medical expenses with the help of Health Shopper.  This website is curated with nothing but unique and eligible health care products, and will help consumers choose which products would fit them best.  Only eligible health care products are found on Health Shopper’s website, which makes it even easier for consumers to know the health care products they are purchasing are considered eligible expenses under the IRS Code.

Consumers can search for products online through the Health Shopper website, and when they have found what they need, will be guided to Amazon to purchase their products.  Health Shopper shows how simple it is to learn about, shop for, choose, and purchase eligible out-of-pocket health care expenses online.

Health Shopper is just another great example of how BASE® is striving to deliver a better consumer experience, and making it even easier to utilize HRAs, FSAs, and HSAs.  No more guessing, no more uncertainty.  Instead, Health Shopper allows consumers to learn about and choose the unique products they need.  Click here to start shopping!