All the things you can buy with your HSA/FSA
It’s almost that time of the year again. While your health savings (HSA) will roll over to the new year, your flexible spending account (FSA) will expire on December 31st and Stix wants to make sure you’re getting the most out of your savings. So, we’ll explain what your HSA/FSA is, how they work, and what you are eligible to spend your money on before it expires.
HSA vs. FSA
HSA stands for a health savings account and is eligible for members enrolled in a high deductible health plan who does not have coverage under Medicare, a spouse's health plan, or an FSA. Under an HSA as an employee, you own the account and unused funds will carry into the next year. The funds in your HSA are not taxed when used for medical expenses.
FSA, or flexible spending account, is available for employees enrolled in a traditional health plan. With FSA, the employer owns the account and contributions are not subject to income tax. All money in your FSA will expire at the end of the year and no more than $500 may be carried into next year's plan. Your FSA essentially allows you, as an employee, to set aside a portion of their salary to pay for medical expenses.
What you can buy
There are several health products that you are eligible to buy with the money in your HSA or FSA that you should be aware of before this money expires at the end of the year. Visiting the HSA or FSA shop will provide all of the things you’re eligible to buy, but we want to highlight a few.
Your FSA allows you to buy a lot of skincare products like sunscreen and moisturizer. It also covers acne treatment, both prescription and over the counter.
Prenatal vitamins are supplements taken before and during pregnancy that provide your body with the nutrients and minerals that are needed to support pregnancy. If you’re trying to get pregnant or have been pregnant, you know how expensive prenatal vitamins can be. We go over why prenatal vitamins are beneficial here. With your HSA and FSA, you can spend your savings on a variety of brands of prenatal supplements and gummies.
Because you can never be too safe. Even if you’re on birth control, condoms are important to protect against STDs and STIs, so it’s always good to have some on hand. Several brands of condoms are covered with both your HSA and FSA, as they are essential for reproductive health.
Ovulation tests detect your fertile window, AKA the point in your menstrual cycle that you're most likely to get pregnant. They’re a useful tool for understanding your cycle and are very helpful when trying to conceive. With an HSA/FSA, you can order months' worth of ovulation tests online. We hate going out to the store to buy ovulation tests every month, so Stix makes it easy. Shop ovulation tests at Stix and we’ll deliver straight to your door. For more on this, check out our definitive guide to ovulation testing.
Another one of our favorites covered by your HSA. Breastfeeding can be hard for new moms. Breast pumps are a big part of a lot of new mothers’ postpartum journey as they help a lot with the breastfeeding process.
We’re all about peace of mind. You can spend what is remaining in your account near the end of the year to stock up on pregnancy tests. Shop Stix pregnancy tests on the Stix site today with your FSA benefits.
The more you know. We hope you found this helpful and will use it to get the most out of your HSA/FSA before it expires. At Stix, there are no dumb questions. Email us your questions at [email protected].
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