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FSA eligible expenses — what purchases count?

Business Management Daily

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. They may also be questioning whether they have a need for an FSA and if so, how much they should choose to have deducted each month. Wherever you fall, we have answers for you.

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Best practices to avoid receipt requests

Benefit Resource Inc.

This is typically your larger retailers and pharmacy chains that sell a broad range of products and services. Pay for all the eligible medical items first with your pre-tax benefits card. Click here for a list of merchants. Use another form of payment for the remaining amount / ineligible items.

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FSA receipt requirements: What you need to document

Business Management Daily

Flexible spending accounts (FSAs) are employer-established accounts that allow you to put aside pre-tax dollars from your paycheck into a special account to be used for eligible health or dependent care expenses. Requirements for retail purchases made on the card issued by an FSA provider may be a bit less stringent.

Retail 52
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Flu season is here- are you ready?

Benefit Resource Inc.

If not, it is an eligible expense under a Medical Flexible Spending Account (FSA), Health Savings Account (HSA) and most Health Reimbursement Accounts (HRA).) Pharmacies housed in large retailers like Walgreens, CVS and RiteAid often offer immunizations and they accept most insurance. Go to a local pharmacy or clinic.

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Can I use my benefits card on a road trip?

Benefit Resource Inc.

While the term “benefits card” may conjure up images of deductibles and doctor’s visits, you can also use your card while traveling. You can use funds from your pre-tax account to pay 1 for the visit. In most cases, large retailers like CVS and Target are a safe bet. For business or pleasure.)

Medical 52
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Who Knew? Ten Lesser-Known Money-Saving Tips

Money Talk

Also, cash-back and low-interest credit cards, pre-tax employer flexible spending accounts, negotiating (a.k.a., Nevertheless, I also continue to find money savings tips that are new to me. I call them my “Who Knews?” Below is a list of 10 of my “Who Knews?” from the several recent annual AARP 99 Great Ways to Save articles.

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“Free” COVID tests are causing headaches for employers

Business Management Daily

We’ve written many times about the tax code’s prohibition on double-dipping — getting a double tax benefit on the same tax item, like taking a deduction and a tax credit for the same wages paid to the same employee. Locations can include pharmacies, other retailers or independent distribution sites.