Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are great tools for cutting healthcare costs. However, while HSAs offer long-term savings potential, FSAs are generally “use it or lose it” — meaning you may need to spend the full amount within the same calendar year to avoid forfeiting unused funds.
Can you buy a Hci Fitness and Medical product using your FSA and HSA card?
Yes, you can! But there’s one qualification: the purchase must qualify as a medical necessity, as determined by your healthcare provider.
Paying is simple—just choose “HSA/FSA” at checkout and use your eligible card.*
Use It or Lose It
The rules around unused FSA funds can vary depending on your specific plan. Here are the most common scenarios for what happens at the end of the calendar year:
Carryover: You may be allowed to roll over up to $500 into the next plan year.
Grace Period: Some plans offer a 2.5-month extension to use any remaining funds.
Forfeiture: In other cases, any unspent funds will expire on December 31, and your balance resets on January 1.
Not sure which applies to you? It’s best to check with your employer or FSA plan administrator.
Every year, more than $400 million of earned money is forfeited because people forget to use their remaining balance before the deadline. So if you have remaining funds in your FSA, don’t let it go to waste!
Shop HealthCare International Now With HSA/FSA
*Some plans may require pre-approval of your purchase, so you should contact your plan administrator for more information on how to acquire appropriate documentation. You may need to request a ‘letter of medical necessity’ from your doctor recommending our product and submit to your HSA/FSA plan administrator. This letter establishes with your plan administrator that the equipment is intended for medical purposes rather than personal use. Keep a careful record of all documentation with approval to purchase the inversion table from your plan administrator.
HealthCare International is not responsible for approving or verifying the approval of using your HSA or FSA debit card for your purchase and assumes no responsibility in the event of an audit or penalty for an unauthorized medical expense. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, medical or accounting advice.
HealthCare International does not provide medical advice, diagnosis or treatment.
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