Posted by Contour Living on November 14, 2013
A flexible spending account (FSA) is a tax-advantaged financial account that can be set upas part of a benefit plan offered by an employer. An FSA allows an employee to set aside a portion of their earnings to pay for qualified expenses (as established in the cafeteria plan), most commonly for medical expenses. Money deducted from an employee's pay into an FSA is not subject to payroll taxes, resulting in substantial payroll tax savings (as much as 40%).
The most common type of flexible spending account, the medical expense FSA (also medical FSA or health FSA) are commonly offered with more traditional health plans and can help offset the high cost of medical treatment. Paper forms or an FSA debit card, also known as a Flexcard, may be used to access the account funds.
Our FSA Approved products are easily identified with this symbol This product is FSA Approved for reimbursement.
When you buy your FSA items here and pay with credit, cash or PayPal, submit the receipts from these purchases to your insurer or plan administrator for reimbursement.
Your receipt will clearly identify qualified products with an "FSA" to the right of the item code (with UPC), as well as the purchase price. Please check back regularly as we are getting new products approved every month!