Healthcare expenses can be costly even with a great insurance plan—especially when going through your motherhood journey. We want to make sure you know about one way you can reduce your personal healthcare costs during this exciting period of your life through Flexible Spending Arrangements (FSA) and Health Savings Accounts (HSA) accounts.
By allowing you to use pre-taxed income on certain health-related expenses, both FSAs and HSAs aid in reducing healthcare costs. Which also means they help reduce your taxable income so that you pay less taxes overall! While both are similar, it’s essential to understand their fundamental differences in order to figure how an HSA or FSA may apply to you.
- An FSA is an employer-established benefit plan. You'll need to check if your employer or your partner’s employer offers this and choose to opt-in with a chosen amount to deduct from each paycheck. Take note that the funds you set aside don’t roll over from year to year—use them or lose them!
- An HSA is a medical savings account that is available to those who have enrolled in a high-deductible insurance policy. Unlike an FSA, self-employed taxpayers with high-deductible insurance policies can also create an account and funds placed into an HSA account can roll over from one year to the next. Like an FSA, you can choose how much to set aside for medical expenses. Note, that if you are eligible for Medicare, Medicaid, or are claimed as a dependent on another person’s tax return, an HSA will not be available to you.
Which Perelel vitamins are covered by FSA/HSA?
There are two types of vitamins/supplements that qualify as an eligible expense with consumer-directed healthcare accounts due to their role in treating medical conditions: prenatal vitamins and glucosamine/chondroitin supplements. Prenatal vitamins are FSA/HSA eligible because they help prevent birth defects and support fetal development. The following Perelel products are covered by FSA/HSA:
- 1st Trimester Prenatal Pack
- 1st Trimester Prenatal Powder
- 2nd Trimester Prenatal Powder
- 3rd Trimester Prenatal Powder
How do you use your FSA/HSA money?
Use your HSA/FSA debit card on our website:
If your FSA or HSA is affiliated with a major card network, we can accept FSA or HSA funds for our prenatal vitamins.
Filing for reimbursement:
If you want to reimburse your Perelel prenatal vitamin purchase with FSA or HSA funds, you should always check with your FSA or HSA provider to ensure your purchase meets their requirements. Sometimes, your FSA or HSA provider will require a letter of medical necessity before approving a reimbursement request.
You can submit your Perelel prenatal vitamin confirmation email to your FSA or HSA provider as proof of purchase. Here's how:
- Search your email inbox for your Perelel order confirmation. You may have received an email from [email protected] (subject line: Order # Confirmed)
- Go to your FSA or HSA provider’s website and log in. Upload your order confirmation from Perelel as proof of purchase. You can get reimbursed for your Perelel product, as well as shipping, and taxes.
If you can’t locate your order confirmation or need additional support, please contact us at [email protected] or your FSA or HSA provider.
What Other Fertility and Pregnancy Products and Services are Covered by FSA/HSA?
As a heads up, HSAs and FSAs are meant to cover “qualified medical expenses” as defined by the IRS (ou can find a complete list of qualified medical expenses covered by FSA and HSA here).
This also includes other things like deductibles, prenatal appointment copayments and other health-related expenses. When it comes to fertility and pregnancy-related expenses, the following are considered eligible:
- Breast Pumps and Supplies
- Diagnostic Devices
- Pregnancy Tests
- IVF and Other Fertility Procedures
- Ovulation Tests
- Prescribed Medicines
- Vitamins Recommended by a Medical Practitioner as Treatment for a Specific Medical Condition
For FSA reimbursements, we recommend filing before the end of the plan year. Time limits may vary with individual plans, and some employer plans may offer a window of up to 90 days to submit claims after the end of plan year, which is typically called a "run-out" period (this is for any expenses incurred during that plan year). We recommend reviewing your plan for personal time constraints or grace periods.
HSA plan accounts can roll over from year to year, so there is no time limitation on when reimbursement claims must occur. It is important to note that you can not reimburse yourself for expenses that occurred prior to opening your HSA account. Regardless, make sure to save your receipts in the rare case of an IRS audit.
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This article is for informational purposes only. It is not, nor is it intended to be, a substitute for professional medical advice, diagnosis, or treatment and we recommend that you always consult with your healthcare provider. To the extent that this article features the advice of physicians or medical practitioners, the views expressed are the views of the cited expert and do not necessarily represent the views of Perelel.
