Brand is looking for even more ways to help you save every day. If you have an FSA, look into the details of your over-the-counter coverage.
Common questions about Flexible Spending Accounts:
What is a Flexible Spending Account (FSA)?
A Flexible Spending Account (FSA) is an optional benefit plan offered by many U.S. employers that allows you to set aside part of your pre-tax earnings to pay for qualifying healthcare expenses. You might already be saving on eligible expenses like prescriptions, eyewear and other over-the-counter products.
How does an FSA save me money?
The money you contribute to your Flexible Spending Account is taken out of your paycheck before taxes are taken out. In effect, you lower your taxable income for tax savings. The “pretax funds” in your FSA allow you to pay for qualifying healthcare expenses that are not covered by your health plan, such as doctor visit co-pays, prescriptions, dental expenses, and more.
Can Over-The-Counter purchases like Depend® products be covered by FSA funds?
Yes. In addition to standard healthcare expenses, you can buy aspirin, cough medicine and many other over-the-counter items with FSA funds. The list of FSA-qualified products now includes Depend® products. Please verify eligibility by reading your specific FSA/HSA plan.
When can I sign up for an FSA?
FSAs are offered through employee benefit programs. Check with your employer’s benefits department for more details.
How do I pay for healthcare expenses with my FSA funds?
If your plan provides a debit card, that’s the easiest way to access your FSA funds. Some plans require that you submit a claim to receive reimbursement from your FSA account. Check with your plan administrator for details on your FSA account.
What is a Health Savings Account (HSA)?
A Health Savings Account (HSA) is a tax-advantaged account that can be used to pay for qualified expenses. Money goes in tax-free, and interest is not taxed when withdraws are made for qualified expenses. Your employer and the IRS can provide additional information.
What expenses can be paid for with my HSA?
You can use your HSA to pay for most qualified medical expenses, which often include incontinence products. See IRS Code 213(d) for details. Please verify eligibility by reading your specific FSA/HSA plan