Don't let your FSA (Flexible Spending Account) or HSA (Health Savings Account) dollars expire! Learn how to use them for fitness equipment, medical supplies, and more before the year ends.
The BasicsYour Flexible Spending Account ( FSA ) and Health Savings Account ( HSA ) dollars will expire at the end of the year. Check your plan to make sure. Sometimes, you can turn in receipts later.You can buy a wide range of athletic gear and medical supplies with FSA / HSA dollars. This includes electrolyte packs, medicine, muscle rubs, KT Tape, glasses, contacts, and more.Much fitness equipment is also covered. But you may need a note from your doctor telling your insurance why you need them.
Gym memberships may be covered, too. Once again, with a doctor’s note.Save all your receipts or use your FSA debit card. Your insurance company will require proof of purchase. Keep copies of everything.What Is An FSA/HSAFSA means “flexible spending account,” and HSA means “health savings account.” They’re very similar ways of setting aside pre-tax dollars from your paycheck so that you can pay your copays, medical bills, and buy medical necessities like glasses, shampoo, deodorant, and yes, even fitness equipment. Most HSA and FSA funds expire at the end of the year, with minimal rollover into the next year, but each insurer is different.And, given that we’re at the end of 2024, many of us are frantically spending our (FSA/HSA) dollars because maybe we overestimated the amount we needed at the beginning of the year, or we kept forgetting to submit receipts and lost them.Why This Matters for RunnersIf you find yourself in this situation, you’ll be happy to learn that you can buy many big-ticket items—including some fitness equipment—with an FSA/HSA. And right now is a great time to spend because not only are you running out of time, but a ton of great gear is on sale this time of year because they are also seen as “gift-able.” Think massage guns, compression socks, fitness trackers, and even things like yoga mats and blocks. For runners specifically, treadmills, insoles, and electrolyte packs are all seeing big discounts right no
FSA HSA Flexible Spending Account Health Savings Account Fitness Gear Medical Supplies End-Of-Year Spending
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