NettetUsing tax-free dollars to pay for eligible expenses saves up to 30%, meaning a $100 eligible expense costs you about $70.*. *These tax examples are broad approximations of tax liability. Your specific savings depend on your tax bracket and if you are eligible for state tax savings. You should consult a tax advisor for help with your own situation. NettetThe CARES Act reclassified feminine products as “medical expenses,” which means you can now purchase pads and tampons with pre-tax income through your FSA or HSA. The bill states, "Amounts paid for menstrual care products shall be treated as paid for medical care," and it retroactively covers purchases made any time after December 31, 2024.
Limited Purpose Flexible Spending Account (LPFSA) Guide
NettetYou are also allowed to enroll in a limited expense FSA if you are already enrolled in a health savings account (HSA). The Limited Expense FSA applies the same "use it or … NettetLimited-Purpose FSA Eligible Expenses. You can use your Limited-Purpose FSA to pay for a variety of dental and vision care products and services for you, your spouse, and … joey crunchtime
Eligible Expenses Benefits WEX Inc.
NettetLimited Purpose FSA Eligible Expense List IMPORTANT: An LP FSA covers eligible dental, orthodontia and vision expenses only and is intended for employees enrolled in a Health Savings Account (HSA). Eligible Dental & Orthodontia Expenses Dental care for non-cosmetic purposes, such as: • Cleanings and exams • Crowns and bridges NettetFSAs are tax-advantaged accounts that let you use pre-tax dollars to pay for eligible medical expenses. You can use an FSA to save on average 30 percent 1 on healthcare costs. Don’t think of it as money deducted from your paycheck—think of it as money added to your wallet. NettetIn most cases, you cannot have an HSA and an FSA at the same time. However, there are some exceptions. If you are currently covered under a high-deductible health plan (HDHP), in order to qualify for an HSA, you are not allowed to be covered under other health coverage. You or your spouse's enrollment in a traditional Health Care FSA would be ... integrity tires loveland