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Have a Flex Spending Account? Here Are 50+ Surprising Things It May Pay For
Many of us use our flexible spending accounts to pay for out-of-pocket medical expenses like doctor visit co-pays or medications that aren’t covered under medical insurance.
But that’s not all your FSA covers.
The IRS has a handy list of medical supplies and services covered by your FSA for preparing your tax returns.
And thanks to a provision to the CARES Act, over-the-counter medication and feminine hygiene products have now been added to that list of FSA eligible items.
You’ll find even more products and supplies when you search for FSA-eligible products and services at FSAStore.com or by searching for FSA-eligible products on Amazon.
So what can you buy with a flexible spending account? We’ve broken down the highlights — including a few that may surprise you.
Although you may think of routine visits to the doctor or even an emergency room visit, there’s a vast array of other medical procedures and surgeries may be covered by your FSA:
Whether it’s a prescription or over-the-counter product, these items are all FSA-eligible.
Beyond medical care, the services you require as part of your medical care — or to get to your medical care — are eligible for FSA coverage.
It can be tough to tell what products and services are covered by your FSA. If you aren’t sure, check with a tax professional or check directly with the IRS.
“If you can’t find the expense you are looking for, refer to the definition of medical expenses under What Are Medical Expenses,” says the IRS.
Lisa McGreevy is a former staff writer at The Penny Hoarder. Staff writer/editor Tiffany Wendeln Connors contributed to this post.
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