Discover how you can use your Flexible Spending Account (FSA) to purchase innovative tech-based health devices, like smart glasses and health trackers, to monitor your health and fitness.
Jacquelyne Froeber is an award-winning journalist and editor. She holds a BA in journalism from Michigan State University. She is the former editor-in-chief of Celebrated Living magazine and has editing and writing experience for print and online publications, including Health magazine, Coastal Living magazine and AARP.
org.The latest health trackers and smart glasses are just a few of the surprising FSA-eligible items you can buy with your pre-tax cash Tech-based health devices are all the rage, but here’s something you might not know: If you have a flexible spending account for out-of-pocket medical costs, you may be able to use that money to purchase a wide range of high-tech health items.An FSA is money you can set aside to pay for healthcare-related expenses like copayments, deductibles and some medications. The big deal about an FSA is that you don’t pay taxes on the money in the account. And no payroll taxes means more money in your— like an average of 30% more — and less taxable income. Also, you can use the money on eligible expenses for your partner and dependents.or when you join the marketplace for health insurance or when getting a new job. You decide how much you want to put in the account based on what you think you’ll spend out of pocket on medical, dental, vision and health-related expenses that year. From there, the entire amount will be available to you but taken from your paycheck throughout the year before taxes are taken out. Depending on the FSA, you will have an FSA debit card or be asked to submit receipts for reimbursement.Most of us associate FSA with the basics like copays, prescriptions, eyeglasses and health-related items like ibuprofen and acne cream. You know, boring stuff.If you need prescription glasses to see, you can buy smart glasses and use AI to monitor health and fitness levels in real time among other perks. These wearables can help manage, monitor and even diagnose health conditions like irregular heart rhythm and sleep disorders. Depending on the model, you may be able to track menstrual and ovulation cycles and other data specific to women’s health. Health bands look beyond the basic steps of a fitness tracker to provide deeper insight into biometrics, cardiovascular health, recovery and overall data you can share with your healthcare provider and use when making decisions about everyday health.Other standout tech-inspired items include blood pressure monitors that connect to smart devices, red light therapy devices for skincare and oral health — even toothbrushes with high-resolution cameras so you can find problem areas for healthier gums. The IRS sets the guidelines for what’s considered a medical necessity and FSA-eligible. Before you buy, check the list ofThe increase in eligible tech-based items on the list is a good reminder that there are innovative tools out there that can make a big difference in the way we manage our health.For most of us, it’s hard to prioritize our own health between work, family, caregiving and a neverending to-do list. But a little tech can go a long way to support health goals and spot possible health problems early when they’re easier to treat.org.
FSA Health Tech Smart Glasses Health Trackers Flexible Spending Account
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