It’s a new year, which in most cases means a fresh start for employee health care benefits. As an HR professional or benefits specialist, or even as a broker with employer clients, you can do your part to help participants maximize the value of their flexible spending accounts (FSAs), health savings accounts (HSAs), and health reimbursement arrangements (HRAs) from the get-go. In this article, we’ll give an overview of each of these health care benefits with pro tips to help participants make the most of their accounts from day one.
Eligible Health Care Expenses
For all health care benefits programs, it is key that employees know what medical expenses are eligible, including items and services such as over-the-counter medications, hospital stays, surgeries, alternative treatments, and copays for doctor’s appointments. To allocate the right amount of money to these accounts, it’s important that employees understand exactly what health care expenses are eligible under an FSA, HSA, and HRA plan. As the person responsible for advising employees on eligible medical spending for these health benefits programs, you should also be knowledgeable about what items and services qualify for coverage.
Start your year in the know by downloading our eligible expense sheets, listing categories of qualified health care expenses for FSAs, HSAs, and HRAs. This sheet will be handy for benefits specialists, brokers, employers, and participants alike!