Parents can use tax-free healthcare funds to pay for over-the-counter medications, everyday health and wellness products, clinical services, and more for eligible dependents
NEW YORK, Aug. 16, 2022 /PRNewswire-PRWeb/ -- Parents will spend an average of $661 per student in back-to-school shopping this year, according to recent data, and experts say that increase is due solely to inflation. Meanwhile, inflation is also affecting healthcare spending, with out-of-pocket healthcare costs expected to increase 6.1% this year. With trends like this, it's hard for parents to catch a break. Fortunately, Health-E Commerce is educating parents on how they can use tax-free flexible spending account (FSA) and health savings account (HSA) funds to pay for health and wellness related products and services they may already be purchasing to support the health of their children during the new school year.
HSAstore.com and FSAstore.com are the first and leading online marketplaces that exclusively sell FSA- and HSA-eligible products. The sites are also leading resources for educational information and personalized tools to help consumers manage their healthcare dollars.
According to Health-E Commerce, following are the Top 10 back-to-school health and wellness products that consumers purchase with FSA and HSA funds. Account holders can visit the online eligibility list to search all 850 categories of eligible expenses – and thousands of brand names and products – to shop and save on items that best support the health of their families.
- Over-the-counter medications to relieve pain and reduce fever.
- Medications to relieve allergy symptoms.
- Menstrual care items, like tampons and sport-proof period underwear.
- Children's allergy alert bracelets to protect younger students from food and medication allergies.
- On-the-go first-aid kits for sports and everyday activities.
- Products to reduce stress and anxiety and support mental well-being.
- Massaging devices to relieve muscle pain.
- Eye drops to relieve strain and redness from prolonged screen time, not to mention prescription eyeglasses and contacts.
- Topical treatments and devices to clear up everyday acne and keep skin healthy.
- Weightless sunscreens for everyday use – perfect for outdoor recess, after-school-sports, or walking across campus.
"The start of a new school year is an exciting time for kids and parents, but financial strain can put a damper on what should be a significant milestone in a family's life," said Shawna Hausman, chief marketing officer, Health-E Commerce. "By using tax-free healthcare dollars, parents can save an estimated 30% on health and wellness products and services, making it easier for everyone to start the new school year off on the right foot."
Savings estimates are based on individual federal and state tax brackets. To learn more about supporting the health and wellbeing of students of all ages, visit FSA Store or HSA Store.
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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]
SOURCE Health-E Commerce
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