What is FSA?

Welcome, we are here to assist you with your employee provided FSA spending account in which you participate. You previously chose to contribute to this program in order to take advantage of the ability to save on your taxes through this IRS approved benefit.

Your employer will have informed you of the specific details of your FSA program and it is important that you are familiar with all of its detail terms, especially regarding your access to any unspent amounts at the end of each calendar year or when you leave the company. There may be some allowance to access any unspent amount, however the policy of many companies is to simply retain any unspent amounts. That is something that you clearly do not want to happen and we are here to help you avoid that possibility.

The other key component of an FSA program is to make sure that only IRS approved items are available for purchase. Your employer sponsored FSA program typically follows that guideline but that is something you should always confirm with them. In the products listed on The BESTOCTS.com you will immediately see if an item is FSA approved by an indication that will confirm it is eligible. If there is no notification then that item does not qualify as an FSA eligible product.

When it comes to payments for the FSA eligible items you wish to purchase you may use your FSA card, however if you don't have that card handy or if your employer policy requires or prefers to reimburse you for such purchases then go ahead and use any other credit card and be sure to submit your invoice to your benefit administrator for reimbursement. Unfortunately since we are not familiar with the precise details of your employer FSA program we cannot guarantee that your company will make reimbursement for every item you have purchased and that you are claiming to be reimbursed.

Feel free to make your FSA purchases at any time and the range of products that qualify as being a medical expense is enormous and are clearly identified on the site and we would be committed to serving you now and into the future.

We urge you to not leave any of your FSA dollars as unspent should you ever leave your company or at the end of each calendar year. That is where we can assist you in finding eligible products to spend any of your remaining dollars in your account.

Finally, if you have an HSA ( health savings account) the main differences to be aware of as compared to an FSA program is that firstly any amounts that are unspent that you may have at the end of a year can be carried forward to the following year and secondly should you ever leave your company you can take those dollars with you, however once again it is important that you are very familiar with the precise terms of your employers HSA program.