YSK: Leverage your FSA/HSA to help stock your preps

Posted by archos1gnis@reddit | preppers | View on Reddit | 14 comments

Why YSK: This is usually the time of year that many employers offer open enrollment to select next years medical benefits. If offered by your company, funding an FSA/HSA is a good way to purchase prepping items with tax free money. You can use it for first aid kits and supplies, OTC medications, CPAP supplies, hygiene items, diabetes supplies, N95 masks, etc., in addition to the typical provider copays and out of pocket expenses related to medical care. I 'think' you can even use it for corrective vision procedures like PRK and LASIK. There is an approved list of items found here, [https://fsastore.com/fsa-eligibility-list](https://fsastore.com/fsa-eligibility-list) Anyway, hope this helps someone!

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14 Comments

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HealthCare_USA@reddit

Great input - the best part is you can buy these products across any retailers and claim the spends and get them reimbursed. The fsastore site is fairly expensive compared to major retailers and I'd recommend to only use it to identify if an item is eligible or not. I was surprised to know recently that suncare products with SPF 15+, feminine hygiene products like tampons and pads, condoms are all covered by FSA/HSA. Almost everybody buys them and they can just claim it. There are even tools out there that will automatically scan your bills across all major retailers (Costco, Amazon and walgreens), identify the eligible claims and help you file the claims instantly. Things are getting better in the FSA and HSA world.

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Granadafan@reddit

I used my FSA to buy the Chirp Wheel set. It’s for back and neck pain. Not having back pain is an excellent prep. Can’t bug out or carry your go bag if you can barely move

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archos1gnis@reddit (OP)

So you're a fan of it? I've had my eye on it a while.

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Granadafan@reddit

Yeah it’s pretty good and helps strengthen your back and neck. They’re not cheap but you can’t put a price on lack of back pain. I do yoga as well every so often, which helps with me not being so stiff in back and legs

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RonJohnJr@reddit

YSK... Yüksek Seçim Kurulu the Supreme Election Council of Turkey??? And I'd never have figured that N95 masks were FSA/HSA eligible.

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AllAboutTheMemes72@reddit

YSK is most typically a shortened form for “ You should Know”

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RonJohnJr@reddit

Thank you.

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HeemeyerDidNoWrong@reddit

Yes, you can generally use it for LASIK. Also investing is a form of prepping so: don't be in a hurry to spend out that HSA. There are no time limits on using it now, you can claim reimbursement for something you bought years ago. In the mean time it's a triple tax advantaged retirement account that you can use for emergencies. Advice does not apply to FSA, spend that before January.

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AllAboutTheMemes72@reddit

This! The HSA is a triple tax advantaged account and should be saved as long as possible and basically treated like an additional 401k/Roth/IRA and you should be spending post tax dollars first for anything other that severely expensive hospital bills if at all possible

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HeemeyerDidNoWrong@reddit

Yeah, and also it's my favorite investment vehicle because I can invest it differently than personal stock and funds (more speculative) but I don't need to worry about liquidity issues like a traditional IRA/401k or the less limited but still tricky Roth. The catches with investing is 1) you need to build up a buffer before you can invest it, usually $1000-2000 and 2) your investment options may or may not be limited, you have to go with the brokers your employer offers. But most are on mainstream investors now anyway.

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silveroranges@reddit

Im maxing out my FSA because I found out I can buy an air purifier if I get a letter from my doctor about allergies. I’m going to buy the nice IQ air one. Plus all the cool first aid stuff.

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archos1gnis@reddit (OP)

If you were to know you're leaving your company, you can max out an FSA, spend it, and they can't come for the rest when you leave.

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bronihana@reddit

Wow. Never thought about that before. Thanks for sharing.

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Correct_You_Are@reddit

This is the first good prepper idea I've read here in awhile.