You can use your 2021 balance for FSA eligible items-Los Angeles Times

2021-12-08 06:06:15 By : Mr. Alwen peng

Does your health care flexible spending account balance burn a hole in your pocket? Don't rush to spend it.

These accounts are called FSA and allow you to set aside pre-tax income for the purchase of qualified medical supplies. This includes doctor’s bills, copayments, and prescriptions—as well as many over-the-counter drugs and other health-related products and devices. (FSA is not the same as a health savings account or HSA. If you have one of them, the balance can be carried forward to the next year.)

The maximum amount you can reserve for the FSA in 2021 is $2,750. In most years, you can only carry part of your balance to the next year. (The current legal limit is $550, but your plan may have a lower limit.) If you end up not receiving a lot of medical bills that year, you will sometimes be busy spending the remaining time in December. The forgotten workers lose a total of about 400 million U.S. dollars each year.

But this year, things are different. Congress changed the 2020 and 2021 rules, assuming that some people may have skipped or delayed health care visits due to the pandemic. If your workplace opts in, you can carry forward all balances to 2022. Contact your benefit provider or human resources department and ask if your employer is involved.

If not, there are many ways to use up your FSA balance. Pharmacies such as CVS and Rite-Aid allow you to use FSA cards like debit cards. Swipe your FSA card at checkout and then pay for all eligible items (see below for ideas on these items). You can also use your card to purchase eligible goods online. Many websites have a page dedicated to covered supplies, including Amazon, Target, Costco, CVS, Rite-Aid, Walgreens, and Wal-Mart. There is also FSAStore.com, as you can guess from the name, it only sells products that meet FSA conditions.

Here are some products that you may not realize are eligible for FSA, in case you need shopping inspiration:

COVID supplies: masks, hand sanitizers, disinfectant wipes, thermometers, pulse oximeters, home COVID testing-these all meet the requirements of the FSA. Reserve a quick test now and prepare for the holiday.

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First aid kit: You should prepare one at home and one in the car. (PS Have you subscribed to our newsletter about earthquake preparedness? There is a complete section about what you have on hand in an emergency.) If you already have a toolkit that you have the opportunity to open, your FSA can cover bandages and first aid Something like ointment supplements it.

Prescription glasses, contact lenses, and eye care: If you need an eye exam, you can do it online now (and may also be paid through your FSA). Once you have the latest prescription, most websites should allow you to use FSA to pay for your new contacts or specifications, including fashionable venues like Warby Parker and See Eyewear. If you don't need new glasses, you can use FSA for things like contact lenses, lens wipes, and eye moisturizing drops.

Menstrual products: Due to the 2020 CARES Act, sanitary napkins, tampons, and other menstrual products are now eligible for FSA spending. If you feel generous, you can consider buying some and donating it to one of the many organizations that provide menstrual supplies to those in need.

Family planning supplies: condoms and emergency contraceptives are eligible.

Over-the-counter medicines and monitoring equipment: Reserve ibuprofen, acetaminophen, certain vitamins and supplements, antacids, painkillers and painkillers, and other over-the-counter medicines in case you need them. You can also use FSA for blood pressure monitors and many diabetes care products.

Babies, pregnancy, and postpartum supplies: Is it expected that there will be new health care dependents in 2022? FSA covers a variety of breast pumps and breastfeeding products, recommended postpartum care products, and even some fancy optional baby products, such as the Owlet monitoring system.

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Sunscreen and skin care: Many acne treatments and eczema creams can be purchased through FSA. Although it is dark now at 5 pm, the sun will come back. be prepared.

Massager: If you have been paying attention to massage sticks, equipment or car seats, then this is your opportunity.

Walking aids: walking sticks, transport chairs and wheelchairs are all eligible.

Home drug testing and smoking cessation aids: If a healthier life is your resolution in 2022, you can use up this year's FSA balance to seize the opportunity.

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Jessica Roy is an assistant editor on the Utility Journalism team of the Los Angeles Times. The stories and information released by the team can help people solve problems, answer questions, and make important decisions about life in Los Angeles and its surrounding areas.

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