FSA Eligible Expenses
Flexible Spending Account (FSA) Eligible Expenses
Flexible spending account eligible expenses mirror the medical expense deductions you can take on IRS form 1040, Schedule A. FSA eligible expenses are primarily for the prevention or alleviation of a physical or mental defect or illness. Eligible flexible spending account items include payments for the diagnosis, cure, mitigation, treatment, or prevention of disease, or treatment affecting any structure or function of the body.
Growing families will find many FSA eligible items. Qualifying flexible spending account expenses fall into several broad categories relating to growing families. Read below for:
FSA Eligible Expenses for Growing Families
Eligible FSA Expenses - Who Qualifies
Eligible flexible spending account expenses include qualified medical items you pay for yourself, your spouse, and your dependents, including a person you claim as a dependent under a multiple support agreement.
Eligible FSA Expenses - What Documentation is Needed?
Eligible FSA expenses are much easier to determine than in the past. With the advent of debit card technology much of the work is already done for you. When you use your FSA debit card at a qualifying pharmacy, or medical providers office the card will automatically tell you whether the expense is eligible. Also, many pharmacies will note flexible spending account eligible items right on the printed receipt.
Many items will fall into a gray area such as: transportation, meals, and other items. You may deduct transportation costs primarily for and essential to medical care that qualify as medical expenses. You may include in FSA eligible expenses the incidental cost of meals and lodging charged by a hospital or similar institution if your principal reason for being there is to receive medical care. Be sure to keep all documentation.