The average American family will spend $890 on back-to-school this year, but tax-free FSA and HSA funds can ease the financial burden and reduce taxable liability for families
DALLAS, Aug. 29, 2023 /PRNewswire-PRWeb/ -- The cost of back-to-school has been rising steadily over the last two decades and it's projected that American families will spend an average of $890 to send their kids back to school this year. Households wondering how they can overcome this significant financial burden should be aware of newly released spending tips from Health-E Commerce®, parent brand to FSA Store® and HSA Store®, designed to help Americans enrolled in flexible spending accounts (FSAs) and health savings accounts (HSAs) use their tax-advantaged dollars to counteract the high cost of back-to-school.
"Whether shopping for a child just beginning school or sending a young adult off to college, there are countless ways to use your FSA or HSA to support their health and wellbeing needs," said Itamar Romanini, vice president and general manager of HSA Store. "By taking advantage of eligible back-to-school essentials and using our searchable online eligibility list, families of all sizes can save money and reduce their tax liability while purchasing everyday items their children use throughout the school year."
According to the experts at Health-E Commerce, these are the Top 10 most popular back-to-school wellness items this year.
- Welly Bravery Badges, Dinosaur, 48 ct. Young ones can be magnets for cuts, scrapes, and bruises, so it pays to have bandages around, especially ones that can keep wounds free of germs or dirt.
- Braun No Touch + Forehead Thermometer. Staying in front of cold or fever symptoms with effective monitoring is crucial to keeping your child healthy and thriving this school year.
- U by Kotex Ultra Thin Teen Pads. Many families aren't aware that menstrual care products are eligible under an FSA or HSA and can help offset the recurring cost of these products.
- Caring Mill™ Acne Patch - 72 ct. Acne is an unfortunate reality of growing up and acne patches have become a popular option for clearing impurities from skin, reducing inflammation, and maintaining a clearer complexion.
- Mucinex Children's Multi-Symptom Liquid Cold, Very Berry, 4 oz. Prepare your medicine cabinet for the new school year or send dependent college-aged students to campus with over-the-counter (OTC) essentials that are also FSA and HSA eligible.
- Caring Mill™ Hot/Cold Knee Wrap. The fall school sports season is upon us, and your tax-free FSA or HSA funds can help manage sore muscles and joint pain with products like hot/cold knee wraps.
- Cure Hydrating Electrolyte Mix, 14 ct. Pouch. Help kids prevent and treat dehydration with essential electrolytes like potassium and sodium.
- Tylenol Extra Strength Rapid Release Gels, 225 ct. Nagging aches and pains can affect a student's focus and overall mood, not to mention interfering with attendance and participation. Treat pain with popular OTC Products like Tylenol.
- Chirp Pro Wheel 9" - Black. Sitting at a desk all day and carrying a backpack full of books can do a number on a student's posture and lead to back pain. Use FSA or HSA funds to experience the soothing vibrations of the Chirp Pro Wheel.
- Dr. Dennis Gross DRx Acne Eliminating Pads, 45 ct. By penetrating deep into skin to clear blemishes, acne eliminating pads are an essential part of a healthy skin routine that is convenient and affordable when you use tax-free healthcare funds.
To keep making smart money moves with your tax-free dollars all year-round, visit the FSA Store or HSA Store Learning Centers, or use our interactive tax calculator.
About Health-E Commerce
Health-E Commerce is the parent brand to FSA Store, HSA Store and WellDeservedHealth, a family of online marketplaces that serve the 70+ million consumers enrolled in pre-tax health and wellness accounts. The company also created Caring Mill, a popular private-label line of health products that benefits Children's Health Fund and enables customers to make a donation with each purchase. Since 2010, the Health-E Commerce brands have led the direct-to-consumer e-commerce market for exclusively pre-tax health and wellness benefits. Health-E Commerce plays an essential role in expanding product eligibility for important new categories within the list of eligible medical expenses.
Media Contact
Barbara Tabor, Health-E Commerce, 651-230-9192, [email protected], www.health-ecommerce.com
SOURCE Health-E Commerce
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