The 401k man's Virtual Advisor Group
F.S.A. Flexible Spending Accounts
A medical flexible spending account commonly known as a flex acct or flex spending acct (FSA) is a personal expense account that works with an employers’ health plan, allowing an employee to set aside a portion of their salary pretax to pay for qualified medical expenses. An FSA offers you a smart way to save on health care costs and help your employees plan for their health care costs now and pre-retirement while saving money on their taxes at the same time. You as a employer can benefit too, with reduced employee payroll taxes through the government approval as a tax incentive to employers. The list below is a list of medical supplies that can be deducted annually or purchased through the FSA as eligible expenses.
Athletic Braces & Supports
Bandages
Baby Sunscreen
Baby Thermometers
Breast Pumps & Accessories
Blood Glucose Monitors & Test Strips
Blood Pressure Monitors
Children's First Aid
Children's Sunscreen
Condoms
Contact Lens Solution
Denture Cream & Cleansers
Diabetes Care Accessories
Eye Glass & Lens Accessories
First Aid Kits
First Aid Treatments & Supplies
Glucosamine Supplements
Glucose Tablets
Hearing Aid Batteries
Home Medical Equipment
Heating Pads & Wraps
Hot & Cold Packs
Incontinence Products
Lip Balm
Medical Monitoring & Testing Devices
Motion Sickness Aids
Nasal Spray
Orthopedic & Surgical Supports
Pregnancy & Fertility Tests
Prenatal Vitamins
Reading Glasses & Magnifiers
Shoe Insoles & Inserts
Sunscreen
Thermometers
Vaporizers & Inhalers
Walking Aids
Wheelchairs & Accessories
