If you are working as a professional and provided with HSA or FSA, you can use that money to spend on several medical expenditures. Flexible spending accounts (FSA) are made available to employers, while health savings accounts (HSA) are available to employees with access to high-deductible health plans (HDHP). With FSA and HSA, you can plan to spend money on medical items without worrying about overspending.
Eyeglasses and Contact Lenses
With FSA or HSA, you can quickly get money to buy the glasses prescribed to you by the ophthalmologist. Though you will have to bear the expense of an appointment and check-up, you can buy the prescribed glasses from the accounts mentioned. You can also get contact lenses and lens-cleaning solutions from that account. This is very helpful as approximately 2.5 million eye injuries occur yearly among people in the United States of America.
Medical Conference
Sometimes, a chronically sick person might be interested in attending a conference on a specific disease. If the person is eligible for FSA or HSA, he doesn’t have to spend any money to buy the tickets for the conference. The high-end medical conferences can be attended by sick people free of cost. The money would be fully paid by their FSA or HSA account. This facility can be used by a person with an HSA account or someone dependent on the person, such as a spouse or a child.
Weight Loss Products
If a person is medically diagnosed with obesity and its side effects like high blood pressure, breathing problems, etc., then he is eligible to apply for the weight loss program under the FSA and HSA. If the person has to go under a medical program, all the costs will be covered by an FSA or HSA account. Some weight loss products also come under the eligibility criteria. However, if the person wants to follow a specific diet without medical consultation, it is not included in the program. Gym membership is also not included in the program.
Breast Pump and Supplies
The employees are eligible to buy breast pumps for postnatal care. There are a few other supplies that come under this category. The employee can choose from different types of breast pumps to buy after childbirth. The money would be paid by the FSA or HSA account. However, it does not include the cost of extra bottles for milk storage.
Artificial Breast Construction
If an employee or dependent has to go through cancer treatment and get a breast replacement, then that cost is covered by the FSA and HSA account as well. The prosthetic breast is constructed and implanted in the patient. Although, the account does not pay for any other type of breast surgery.
Contraceptive Pills and Condoms
Birth control supplies come under this category. If an employee is on contraceptive pills or uses condoms, then they are eligible to get the money to buy those from FSA or HSA. A person can purchase these things from some specific stores online, and the pills and condoms will be delivered to their home.
Drug Addiction Medication
If an employee is under medical supervision for drug overuse, then the medical fee for the program and the medicines will be paid by FSA or HSA. The employee first has to go through a thorough investigation by a medical expert. If the medical expert refers the employee to such a program and prescribes medication for the same, then the employee doesn’t have to pay anything from his pocket.
Erectile Dysfunction medicine
If the employee has erectile dysfunction (ED), then he can get the medication free of cost. This is covered under the FSA or HSA. The employee has to pay the medical fee for the diagnosis. Once it is confirmed that the employee suffers from ED, he can get the medication for ED delivered to his house privately.
Travel for Hospital Visits
Some people have to visit hospitals regularly to consult doctors. The FSA and HSA bear the travel costs for such chronically sick patients. If the hospital is far away and the employee has to take a bus or train regularly for the hospital visits, that amount is included under this category.
Vehicle in case of emergency
If there is an emergency and an ambulance is needed, the patient or the dependent people don’t have to worry about the cost charged by the vehicle. The amount FSA or HSA will pay for this. This facility is available for people with chronic illnesses who might suffer from the disease at any time. Examples are – stroke, heart attack, etc.
Sunscreens
Sunburn and damage can cause severe skin issues. This also includes skin cancer. This is very useful in the states where the weather is hot most of the year. This is an initiative that most people appreciate, and anyone can benefit from its benefits. An employee can buy sunscreen from the amount of FSA or HSA free of cost.
Certain medications and Menstruation Products
There are over-the-counter medicines that don’t need a doctor’s prescription. Such drugs and menstrual cups can be bought from the chemist directly with funds from FSA or HSA. This is also to promote the use of menstrual cups instead of plastic menstruation pads that are considered harmful when used long-term.
Home Improvements for Medical Care
While the scope of home improvement under FSA or HSA is low, it is not negligible. If a person needs to alter the space at home to accommodate a physically challenged person, they can use the funds from FSA or HSA. This mainly includes building a ramp for the disabled person, widening doors, etc. This proves to be very helpful for people with some disability.
Purchase Medical Tools
Medical tools, such as thermometers, blood pressure, and CPAP machines, are covered under FSA and HSA accounts. Additionally, the FSA and HAS can fund pain relief tools, including heated pads, cold wraps, knee braces, self-massage tools, rollers, and more. You can purchase all these tools without spending any amount from your pocket.