FAQs

 Health Care FSA (Displaying results 41-43 of 43)

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• Why should I use an FSA for health care expenses rather than deducting the expenses on my income tax return? Open Closed

  Medical expenses that exceed 10 percent of your adjusted gross income (AGI) can be deducted on your federal income tax form. However, FSAs are tax-free from the first dollar. You do not have to meet the 10 percent AGI minimum before receiving the… Read more…the full answer

• Are over-the-counter items (OTC) that include sunscreen as an ingredient considered eligible expenses? Open Closed

  Over-the-counter items that include SPF as an ingredient could be potentially eligible. To be considered eligible, the sunscreen component would need to be the primary function or purpose of the over-the-counter item. For potentially eligible expe… Read more…the full answer

• Are over-the-counter (OTC) menstrual care products eligible for reimbursements from my HCFSA? Open Closed

  The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law Friday, March 27, 2020. The CARES Act newly allows for the reimbursement of menstrual care products effective January 1, 2020. When you submit a c… Read more…the full answer