Maximizing Your FSA and HSA Funds with Telehealth
As the year comes to a close, many people find themselves racing to use their healthcare funds from flexible spending accounts (FSAs) and health savings accounts (HSAs). This rush presents a perfect opportunity to explore telehealth options that are not only eligible for these accounts but can also help you in reaching your health goals for the upcoming year.
What Telehealth Services Are Available?
The world of telehealth has expanded tremendously, particularly in light of recent healthcare trends. Services from BetterHelp, Bilt Labs, Daybreak, and MEDVi can all be accessed using your EFS and HSA funds. These platforms offer affordable and convenient access to mental health care, custom foot care solutions, and innovative sleep aid devices.
BetterHelp: Mental Health Support
BetterHelp is one of the largest online therapy platforms available today. It provides users the flexibility to connect with trained therapists from the comfort of their homes. With special offers available for new customers, now is a great time to give it a try and potentially receive 25% off your first month.
Bilt Labs: Customized Foot Care
For those dealing with foot pain, Bilt Labs offers a service to create custom insoles tailored to individual foot shapes and conditions. Their process includes obtaining a home foot impression that is assessed by podiatrists, resulting in specialized inserts delivered directly to your door.
Special Offers That You Can't Afford to Miss
As part of FSA Store and HSA Store's initiatives, they feature significant discounts and benefits for early planning with your healthcare spending. Limited-time offers from various telehealth providers can lead to substantial savings.
Exclusive Deals
- Bilt Labs: New customers can enjoy a buy one, get one 50% off or buy two, get one free offer with an additional $20 off. This is a perfect way to ensure comfortable feet heading into the new year.
- OURA Ring: For a limited time, you can receive up to $150 off select styles of the OURA Ring, a health-tracking device that monitors various health metrics including sleep and activity.
- Daybreak: Those looking for solutions to sleep disruptions can take advantage of a 50% discount on their at-home sleep test, making it easier to address issues like snoring and sleep apnea.
- MEDVi: For those focusing on weight management, MEDVi is also offering $120 off the first month, along with free shipping, providing access to prescription medications and personal coaching.
Steps To Avoid Losing Your FSA Funds
With the deadline for spending FSA funds looming, here are actionable steps to make sure you don’t lose your saved money:
- Check your FSA balance with your employer or administrator for an accurate assessment of what you can spend.
- Utilize tools available at FSA Store for managing your account and recognizing what products are eligible for purchase.
- Leverage the FSA Eligibility List to streamline purchasing decisions and ensure that you're selecting eligible goods and services.
- Access telehealth services for various health aspects, including mental health and ongoing health monitoring for a comprehensive approach to your well-being.
Understanding FSA Deadlines
December 31 typically marks the deadline for the use-it-or-lose-it rule associated with FSAs. Employers may provide grace periods or carryover options, which may vary. It’s wise to reach out to your HR department or FSA administrator to clarify details relating to your specific plan.
About Health-E Commerce
Increasing access to health purchasing options is the mission of Health-E Commerce. They operate both FSA Store and HSA Store, catering to millions of consumers using pre-tax accounts. The company also provides a selection of health products through Caring Mill, with a commitment to donating to children’s health initiatives.
Frequently Asked Questions
What types of services can I use with my FSA or HSA funds?
You can use FSAs and HSAs to pay for telehealth services, medical devices, and various health-related products that are approved for eligibility.
How do I know which telehealth services are eligible?
Each provider's services should be verified against the FSA Eligibility List, easily accessible on the FSA Store website.
Can I combine offers from different telehealth providers?
Typically, promotions are limited to one offer per service, so check individual terms and conditions when using multiple services.
Is mental health therapy eligible for FSA reimbursement?
Yes, therapy services can be eligible, provided you attend regular sessions and keep a record for FSA reimbursement purposes.
How can I ensure I don’t lose my FSA funds?
Be proactive in checking your balance and spending well in advance of the deadline to reduce the risk of losing your FSA funds.
