Now Eligible to Accept FSA & HSA Cards

Your purchase of FrozenPeaz® Hot/Cold Therapy products, to treat soft tissue injury and to aid in post-surgery recovery, is eligible for Flexible Spending Account or Health Savings Account benefits.1 You are able to use your HSA and FSA debit/credit cards to purchase from FrozenPeaz.com.

What is HSA and FSA?

HSA: Health Savings Account (HSA) are available to taxpayers who are enrolled in a High Deductible Health Plans. The funds contributed to the account are not subject to federal income tax at the time of deposit. Money left in the savings account earns tax-free interest. Unlike a Flexible Spending Account (FSA), HSA funds roll over year to year if you don’t spend them.

FSA: Flexible Spending Arrangement (FSA) is an employer sponsored benefit that enables employees to set aside pre-tax dollars out of their paycheck to pay for eligible health care expenses. FSAs are available only with job-based health plans. Employers may make contributions to your FSA. If there is money left in your FSA account at the end of the year, only a portion can be rolled over.

What Are Qualified Expenses?

The IRS defines qualified medical expenses as amounts paid for the “diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body.” Qualified medical expenses are eligible for reimbursement through your HSA as long as they are not reimbursed through insurance or other sources.

Premera, a Blue Cross company, has a very straight-forward chart of covered and non-covered expenses.

Chart of FSA and HSA QualifiedExpense

 

The full chart is available at https://www.premera.com/documents/022717.pdf

 

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Purchase hot/cold therapy products with FSA or HSA credit/debit card.

 

 

 

 

 

 

 

1 – You should always review your individual plan benefits before making any HSA or FSA purchase.