The changes to the credit for child and dependent care expenses for 2021 under the American Rescue Plan Act of 2021 have expired. With the passing of the 2020 CARES Act, many new items and categories are now eligible without a prescription, including cough and cold, allergy and sinus and more.The 2021 enhancements to the credit for child and dependent care expenses have expired. How has the CARES Act impacted FSA eligible items?įSA- and HSA-eligible products such as contact lenses, first aid supplies and sun care, can be paid for in store or online with your FSA or HSA card. You can typically use funds in your FSA or HSA account to cover the costs of a number of products Walgreens offers, including: What items are FSA eligible at Walgreens?Ĭheck with your plan provider regarding which items are eligible for FSA and HSA. You can also open an HSA through some b anks and other financial institutions. Some health insurance companies offer HSAs for their HDHPs. For 2023, you can contribute up to $3,850 if you have self-only coverage or up to $7,750 for family coverage. At age 55, you may contribute an additional $1,000 each year into your HSA. This money is usually taxable when withdrawn and used for other types of expenses. If you use the money to pay for a qualified medical expense, you don't have to pay taxes on the withdrawal. This generally is a health plan (including a Marketplace plan) that only covers preventive services before the deductible.Īt the age of 65, you can begin taking distributions from your HSA account for any reason without paying a penalty. While you can use the funds in an HSA at any time to pay for qualified medical expenses, you may contribute to an HSA only if you have a High Deductible Health Plan (HDHP). Generally, HSA funds may not be used to pay for premiums. By using untaxed dollars in a Health Savings Account (HSA) to pay for deductibles, copayments, coinsurance and some other expenses, you may be able to lower your overall healthcare costs. Helpful resourcesĪ Health Savings Account is a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. You can also save, email or print out and submit your purchase confirmation page or receipt to your FSA or HSA account administrator for reimbursement.įor additional information about Flexible Spending Accounts or Health Savings Accounts, please contact your healthcare plan administrator. The total amount will be automatically deducted from your account. When shopping in store or online, you can use an FSA or HSA debit card supplied by your health insurer to purchase eligible items. How do I get reimbursed for FSA- or HSA-eligible items I buy on ? Then, you can pay for the non-FSA/HSA items separately. You will be able to pay for your FSA or HSA items with an FSA/HSA card. When shopping in store, your basket will be divided into two buckets: FSA/HSA and non-FSA/HSA. Yes, FSAs and HSAs can be used online and in stores.
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