FSAs are one of the most popular employer-sponsored benefits. But no matter how popular it is, not every participant knows all the eligible health care products and services they can pay for with their pre-tax funds!
The Flexible Spending Account (FSA) is a pre-tax benefit designed to provide employees with tax advantages to help offset their health care costs.
The BASE® FSA provides employees with more options to pay for out-of-pocket health care spending not covered under any insurance plan.
Many know that employees can pay for common health care expenses such as copays, prescriptions, medical supplies, and more, but here are 8 surprising things you may not be aware of that people can buy with FSA dollars:
- Over-the-counter medications and menstrual products
- Birth control
- Breast pump and supplies
- Sunscreen
- Transportation to cover the cost of local and long-distance transportation that is essential for care
- Home modifications for health care-related improvements
- Weight-loss programs but not gym fees or food
- Alcohol or drug treatment
And so much more!
Flexible Spending Accounts are a valuable tool that offers participants the opportunity to put money away on a pre-tax basis to pay for eligible health care expenses, planned or unplanned. From routine health care needs to unexpected costs, the FSA provides a safety net to help pay for those costs while not dipping into a personal or savings account.
To learn more about the BASE® Flexible Spending Account, contact BASE® at 888.386.9680 or visit www.BASEonline.com.
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