Health Savings Accounts (HSA) and Flexible Spending Arrangement (FSA) for Health Monitoring Devices

SOURCE www.foxnews.com
Check your Health Savings Account (HSA) and Flexible Spending Arrangement (FSA) balances as the year-end approaches to avoid losing saved funds. Purchase HSA/FSA-eligible health monitoring devices online to better monitor your health at home.

Key Points

  • HSA balances rollover, FSA accounts expire at the end of the year
  • Various health monitoring devices available online
  • Devices such as fitness trackers, heart rate monitors, blood glucose monitors, oximeters, blood pressure monitors, anti-snoring devices, blue light blocking glasses, electrolyte replacements, thermometers, vaporizers, and acne treatments are HSA/FSA-eligible

Pros

  • Opportunity to utilize saved funds for health monitoring devices
  • Convenience of purchasing online from retailers like Amazon and Walmart
  • Ability to better monitor personal health at home

Cons

  • FSA accounts expire at the end of the year, potentially leading to loss of saved funds if not utilized
  • Limited to purchasing HSA/FSA-eligible items only