FSA and HSA Eligible Telemedicine Services

Telemedicine is FSA and HSA eligible

Telemedicine services are also less than or equal to the cost of a typical urgent care visit copay!

Our telemedicine services are FSA and HSA eligible

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), effective January 1, 2020, introduced some important provisions for FSA and HSA users. One of these specific provisions is that health plans can now cover both Covid and non-Covid related telehealth services pre-deductible without impacting HSA eligibility. This provision is currently in place until December 31, 2021.

Physician 360’s telemedicine services and at-home test kits are FSA/HSA eligible* and we currently do accept FSA and HSA payment cards! Eligible services include our COVID-19 testing options, both the Rapid Serology Tests and PCR Saliva Tests performed at our partner pharmacies. To use your FSA or HSA payment card, check out just as you would normally with any other payment method.

Keep reading to learn more about FSA/HSA eligibility and options, and please contact us with any questions you have!

*Please note, there is no guarantee that your FSA or HSA card will be accepted as these types of cards tend to have varying rules and regulations attached. If you have trouble using your FSA or HSA card on the Physician 360 website or you are unsure about coverage with your FSA or HSA, please check with your card’s bank or your benefits provider.

What is an FSA?

A Flexible Spending Account (FSA) is an account that anyone who is under the age of 65 and employed can use to save on taxes and pay for qualified expenses. Some important things to know about FSAs are that your employer provides and owns the account and only you and your employer can put money into an FSA, with a limit set each year by the IRS. Keep in mind FSAs are a “use it or lose it” account and your employer can keep funds you haven’t used by the end of the year.

You usually sign up for an FSA once a year during open enrollment. This is when you estimate your expenses for the upcoming year, see if your employer is contributing any money to the FSA and then decide on the total amount you want to put in the account.

What is an HSA?

A Health Savings Account (HSA) is a savings account that helps you save and pay for healthcare expenses tax-free. HSAs can help you save for retirement by allowing you to use the funds to pay for general living expenses without penalty and can provide some major tax advantages. In many cases, you can invest a portion of your HSA balance if you maintain a $1,000 balance in your account and the money invested can continue to grow tax-free. An HSA is only available with a health plan that has a high deductible.

A big differentiator between FSAs and HSAs is that your HSA balance rolls over year-to-year and is always yours to spend, save and invest. At age 65, you can use your HSA funds for any purpose without a penalty and the money you take out to pay for eligible healthcare expenses continues to be tax-free.

Understanding FSA and HSA Eligibility

Generally, if a telehealth appointment with a health care provider is replacing an in-person visit, you should be able to pay for it using your tax-free FSA and HSA funds. That being said, telehealth or telemedicine is eligible for reimbursement with your FSA or HSA.

This includes all of Physician 360’s telemedicine consults and at-home kits! To use your FSA or HSA payment card, check out as you would normally with any other payment method. If you run into any issues using your FSA or HSA card on the Physician 360 website, please reach out to your card’s bank or plan’s administrator.

SHOP CONSULTS & KITS

Questions on what else you can spend your FSA/HSA funds on?

There are thousands of eligible expenses for tax-free purchase with your FSA and HSA funds. Click the options below to familiarize yourself with other common FSA/HSA eligible products and services, according to Connect Your Care!

FSA Eligible Expenses

Acupuncture
Alcoholism treatment
Ambulance
Artificial limb
Birth control pills
Blood pressure monitoring device
Breast pumps and related supplies
Chiropractic care
Contact lenses and related materials
Dental treatment
Dentures
Diagnostic services
Drug addiction treatment
Eye examination, eye glasses, and reading glasses
Family planning items
Fertility treatment
Flu shot
Hearing aids
Hospital services
Immunization
Insulin and diabetic supplies
Laboratory fees
Laser eye surgery
Medical testing devices
Menstrual care products
Nursing services
Obstetrical expenses
Orthodontia (not for cosmetic reasons)
Over-the-counter (OTC) treatments containing medicine–cold treatments, ointments, pain relievers, stomach remedies, etc.
Over-the-counter (OTC) treatments without medicine–bandages, wraps, medical testing devices, etc.
Oxygen
Physical exam
Physical therapy
Prescription drugs
Psychiatric care
Smoking cessation program and medications
Surgery
Sunscreen & sun block (SPF 15+, broad spectrum)
Transportation for medical care
Weight loss program necessary to treat a specific medical condition
Wheelchair, walkers, crutches, and canes

HSA Eligible Expenses

Acupuncture
Alcoholism treatment
Ambulance
Artificial limb
Birth control pills
Blood pressure monitoring device
Breast pumps and related supplies
Chiropractic care
COBRA premiums (post tax only)
Contact lenses and related materials
Dental treatment
Dentures
Diagnostic services
Drug addiction treatment
Eye examination, eye glasses and reading glasses
Family planning items
Fertility treatment
Flu shot
Hearing aids
Hospital services
Immunization
Insulin and diabetic supplies
Laboratory fees
Laser eye surgery
Long-term care premiums or expenses (post tax)
Medical testing devices
Menstrual care products
Nursing services
Obstetrical expenses
Orthodontia (not for cosmetic reasons)
Over-the-counter (OTC) treatments containing medicine– cold treatments, ointments, pain relievers, stomach remedies, etc.
Over-the-counter (OTC) treatments without medicine– bandages, wraps, medical testing devices, etc.
Oxygen
Physical exam
Physical therapy
Prescription drugs
Psychiatric care
Retiree (post-65) medical insurance premiums (post tax)
Smoking cessation program and medications
Surgery
Sunscreen & sun block (SPF 15+, broad spectrum)
Telehealth services (pre-deductible)
Transportation for medical care
Weight loss program to necessary to treat a specific medical condition
Wheelchair, walkers, crutches and canes

Still have some questions?

Be sure to visit our FAQ page to find the answers to some of our most frequently asked questions. Have a specific question that you don’t see listed? Don’t hesitate to contact us here, or directly send us an email at info@physician360.co!