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Category: Health Savings Account

Flexible Spending Accounts, Health Reimbursement Arrangements, Health Savings Account

PPE is FSA Eligible; HSAs and Some HRAs Also Affected

April 6, 2021April 6, 2021 P&A Group

Coronavirus protection/PPE is FSA eligible. Medical protective surgical masks, hand sanitizer gel on white table. Reimbursement accounts just had their eligibility list expanded to include personal protective equipment (PPE) to help fight against the spread of COVID-19.  Under Announcement 2021-7, issued by the IRS, PPE is now FSA eligible through December 31, 2022. Additionally, PPE… Continue reading PPE is FSA Eligible; HSAs and Some HRAs Also Affected

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Flexible Spending Accounts, Health Savings Account

HSA or FSA: What Should You Choose?

October 19, 2020October 20, 2020 P&A Group

HSAs and FSAs are both great savings vehicles that can help you reduce medical expenses.  When it comes to determining which account is right for you, it’s important to weigh the benefits of each account.  Let’s review! What is a Flexible Spending Account (FSA)?  A Flexible Spending Account, also known as an FSA, gives you… Continue reading HSA or FSA: What Should You Choose?

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Tagged FSA, Health Flexible Spending Account, Health Savings Account, HSA, HSA vs FSA, What's better a HSA or FSA?Leave a comment
Employee Benefits, Flexible Spending Accounts, Health Savings Account

2021 HSA Contribution Limits Announced

May 21, 2020June 2, 2020 P&A Group

On May 21, 2020, the IRS announced the 2021 HSA contribution limits for Health Saving Accounts (HSA). The following increases are effective January 1, 2021: 2021 HSA Contribution Limits Individuals with single HDHP coverage will see a $50 increase in the annual contribution limit, bringing the maximum limit to $3,600 for 2021. Families with family… Continue reading 2021 HSA Contribution Limits Announced

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Employee Benefits, Flexible Spending Accounts, Health Savings Account

5 OTC Items You Can Now Buy with Your FSA or HSA

April 16, 2020June 2, 2020 P&A Group

OTC items purchased with a Flexible Spending Account no longer require a prescription for reimbursement. Under the new CARES Act, millions of account holders can now use their spending accounts to purchase over-the-counter (OTC) items. Consumers were previously prohibited from using their FSA or HSA to purchase OTC items without a doctor's prescription under the… Continue reading 5 OTC Items You Can Now Buy with Your FSA or HSA

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Tagged FSA OTC, FSA Store OTC expenses, OTC CARES Act, OTC FSA eligible expenses5 Comments

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