A big change in federal tax law is making it more important than ever to have an established, communicative relationship with your primary doctor.Angie's List shows you how to get the most of your heath care spending account.
Effective Jan. 1, 2011 anyone using a Flexible Spending Account (FSA), Health Savings Account (HSA) or Health Reimbursement Account (HRA) to purchase any over-the-counter medicines will first need a doctor's prescription, or the purchase will be denied or ineligible to be reimbursed. In the past, consumers with health care spending accounts could be reimbursed for these purchases without a doctor's authorization.
What that means for consumers:
Money Saving Advice:
For those who must use their funds by the end of the year and can't, or don't want to bother
with getting prescriptions filled there are other medical items you can purchase with your health
care spending account that you might not ordinarily think of: Use your funds for items like
glasses, bandages, braces and supports, ice packs, thermometers, and personal medical supplies.
You can use your allocated health dollars to join a weight loss program, if it is for treatment
of a specific disease, visit a chiropractor or see an acupuncturist. Those with diagnosed hearing
loss can purchase qualifying specialty televisions and telephones. A health care spending account
can even pay to reconfigure an automobile to accommodate a disability, or to modify your home to
accommodate a medical condition. It can also pay for the cost of removing lead-based paints from
Visit http://www.irs.gov/publications/p502/index.html for a complete list of qualifying and non-qualifying purchases, or call your plan administrator or human resources specialist to be doubly sure you're following the rules.
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