What is a "Flexible Spending Account"?
A flexible spending account (FSA) is a healthcare benefit program set up with your employer. This voluntary plan allows you to place a portion of your pre-taxed income into a pre-paid spending account.
How to get started
1. Find out if your company offers FSA benefits.If so, decide how much money you would like to set aside in your FSA account and ask your employer for a list of qualifying items.
• IMPORTANT: the list of eligible items has changed. All over the counter items now require a prescription. Read more about product qualification details.
2. Contribute to your account. This account is managed by your insurance company and is accessible only to you.
To make a purchase
In-store purchases with an FSA debit card: Use your FSA debit card for any eligible purchase. Your account will be automatically debited, so there is no need to submit receipts.
Online or in-store purchases without an FSA debit card:
Look through your receipt for items marked to denote any health purchases that qualify for FSA reimbursement.
Your total healthcare purchases will be calculated at the bottom of your receipt for easy reference. Then, submit the receipt to your insurer and be reimbursed on approved items with allocated funds from your FSA.
Content on this site is provided for informational purposes and is not meant to substitute for the advice provided by your own physician or other medical professional.
Sears Holdings Corporation makes no representation or warranties, expressed or implied, nor claims responsibility for the results obtained from the use of such information.