What Expenses are Covered by a Medical FSA Plan?
An FSA plan or a flexible spending account allows employees to put away tax-free money to pay for eligible medical expenses that are not paid for by their health insurance. There are hundreds of products and services that are covered with this type of pre-tax health account. They range from office visit co-pays to over-the-counter (OTC) medicines to co-insurance for prescriptions.
Eligible Medical, Dental and Vision Flex Plan Expenses
Here is a list of some of the medical, dental and vision care expenses that employees can pay for with their FSA money.
- Deductibles and co-pays for medical and dental expenses
- Prescription drug co-pays and co-insurance
- Orthodontia and other dental care expenses
- Eye exams, contacts, eyeglasses, solutions and eye surgery
- Physical therapy
- Chiropractic care and treatment
Over-the-Counter (OTC) Items That an FSA Covers
With over 100 eligible over-the-counter products that can be expensed through a flexible spending account, here are some of the most widely purchased items.
- Birth control
- Reading glasses
- Pregnancy tests
- Monitors and test kits
- First aid supplies such as bandages and athletic braces
- Click here for a comprehensive list of eligible FSA health care expenses
Ineligible Flexible Spending Expenses – What OTC Items are Not Covered?
The guideline to use for what’s not covered by a flexible spending plan has to do with whether the expense is cosmetic in nature or an item which is ordinarily for personal use. Here are some over-the-counter items that cannot be paid for with FSA money.
- Pain relievers such as aspirin, ibuprofen, and name brands like Advil®, Aleve® and Tylenol®
- Allergy & sinus medicines such as Benadryl®, Claritin® and Sudafed®
- Cold and flu medications, cough drops, nasal sprays and throat lozenges
- Antacids including brand names like Mylanta®, Pepcid® and Rolaids®
- Toothbrushes, toothpaste, dental floss and mouthwash
- Shampoo and conditioner
- Feminine hygiene items
- Baby products such as bottles, baby oil, wipes and cotton swabs
- Teeth whitening products