FSA Eligibility List

The FSA Eligibility List is a list of tens of thousands of medical items that have been determined to be qualified expenses for flexible spending accounts in the United States. The U.S. Internal Revenue Service outlines eligible product categories in its published guidelines.[1] These guidelines are interpreted by the Special Interest Group for IIAS Standards (SIG-IS) to form eligibility criteria for medical expenses.[2] These criteria provides official interpretation of U.S. Internal Revenue Service guidance regarding eligible product categories.

Eligibility list

Eligible products are separated into two categories:

  1. FSA-ok Items (Products eligible without a prescription)
  2. FSA-Rx Items (Products require a prescription for eligibility)

FSA-ok eligible items

FSA Eligible Medical Items

FSA-Rx eligible items

Using the FSA debit card

The master eligibility list is referenced at the point of sale when a purchase is made with an FSA debit card. When a purchased item matches up with an item on the eligibility list and there are sufficient funds, the FSA reimbursement is automatic and no further action is necessary by the account holder.

Submitting receipts for reimbursement

Regular credit card purchases may be reimbursed by an FSA only when an itemized receipt is submitted to the account holder's FSA administrator following a purchase. Credit card purchases do not reference the eligibility list at the point of sale, but are manually reviewed by the FSA administrator following submission of transaction receipts.

References

  1. ↑ IRS publication 502
  2. ↑ https://www.sig-is.org/publications/eligible-product-list-criteria

External links

This article is issued from Wikipedia - version of the 11/23/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.