Want to know how to get the best bang for your buck when it comes to buying CPAP supplies? You may be able to pay for your treatment with money you already have tucked away.
Did you know you could use your FSA to cover the cost of your home treatment equipment for sleep apnea?
Many patients are surprised to hear they could pay for treatment with the same funds they use for eyecare, dental work, and other out of pocket treatments.
But sorting through how to access your FSA can be confusing at first. If you feel lost trying to understand the maze of insurance information available, we have you covered.
Read on to learn how to use your FSA account to pay for your CPAP supplies and materials.
If you're wondering if you can use flexible spending account money for your CPAP equipment, here's what you need to know.
You can purchase CPAP supplies online with FSA funds, as well as money from your health savings account (HSA) or a health reimbursement arrangement (HRA). However, you can't get reimbursement from limited-purpose FSAs (LPFSA). Dependent care FSAs (DCFSA) are also ineligible.
Why Use Your FSA/HSA?
Buying your CPAP equipment using FSA/HSA funds gives you one major advantage. The money you spend on your device will be tax free and save you some green in the long run.
The HSA is designed to help those with high-deductible health plans use tax-free dollars toward their medical expenses. An FSA allows a patient to set aside a part of their earnings to use as pre-tax dollars toward medical expenses.
The other primary difference is that HSA funds don't expire at the end of the year. Your FSA funds won't always carry over, on the other hand.
How to Claim CPAP Supplies Using Your FSA
To cash in on this great opportunity, all you will need are expense statements and a completed claim form.
You'll need to include your name and date of service, as well as the merchant name and contact information. After that, you'll need to describe the type of transaction and what the expenses are for, including cost. Submit these forms and you are set to save.
Machines, power supplies, headgear, CPAP cleaning supplies and tubing are all typically included.
You will want to be sure to use the same FSA/HSA card to reorder supplies at a regular interval throughout the year. All it takes is planning which equipment to replace and how often, and then summing those costs to provide an annual estimate.
Using Your FSA to Save at 1800cpap.com
Treating your sleep apnea doesn't need to break the bank. Flexible spending accounts are an excellent long-term option for repurchasing CPAP supplies to help you get a great night's sleep.
Your FSA/HSA should be eligible to use when purchasing top-quality sleep apnea equipment at 1800cpap.com using your pre-tax dollars.
If you have any questions about purchasing equipment with FSA, please contact us here and we will be happy to help.
To be 100% certain of your health savings benefits please contact your employer, or whomever is responsible for maintaining your healthcare-related account. 1800cpap.com is not responsible for any misuse of your healthcare services.