What Is a Flexible Spending Account (FSA)?
A flexible spending account (FSA) is a type of savings account that provides the account holder with specific tax advantages. An FSA, sometimes called a “flexible spending arrangement,” is set up by an employer for an employee. The account allows you to contribute a portion of your regular earnings to pay for qualified expenses related to medical and dental costs.(from investopedia).
Some people struggle to spend all their FSA money by the end of the year and only a certain portion can be rolled over to the next year.
Here are are tips to being low waste while using the FSA:
- Ask for an emailed receipt. This way you can upload the receipt straight to the FSA app.
- Use your FSA funds on experiences not things. With a medical letter of necessity you can receive massage, gym memberships and many other in person experiences rather. I was able to email my doctor to get this letter.
Items you can purchase that are sustainable:
- Menstrual cups and other feminine products are now reimbursable under the FSA program. WAHOO! I purchased mine from Saalt and they helped me get a receipt that was accepted by my FSA provider.
- Sunscreen! I love that sunscreen and cosmetics that include SPF are covered under the FSA. Just make sure you keep the receipt (preferably a digital receipt). I purchased mine from our local zero waste store. You can also purchase directly, I like Raw Elements.
- Biodegradable bandaids are a great way to spend FSA funds. Check these out from Patch. They are made with bamboo.
- Vitamins can be low waste if you find the right ones. Glass bottles are a good option. If you want personalized vitamin packs Care/of is now packaging their vitamins in plant based film. They have an awesome quiz to help you find the right vitamins.
- Did you know you can buy biodegradable pregnancy and ovulation tests? Check them out here.
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