Effective Jan. 1, 2011, expenses incurred for over-the-counter medicines, with the exception of insulin, will not be eligible for reimbursement under a health FSA, HRA or HSA without a prescription.

The key difference between a medical FSA and a limited FSA are the expenses covered. A limited FSA is used to pay for vision and dental expenses that are not covered by insurance. While a medical FSA ...

Whether employees forget that the money in their FSAs must be used or it will be lost, or they simply aren’t aware of which expenses can be covered by FSA funds, their frustration at losing money ...

What are they? HSAs are tax-advantaged medical savings accounts available to taxpayers who are enrolled in an HSA-qualified high-deductible health plan. The funds contributed to the account are ...

However, the average FSA participant contributes only $1,400 per year, and employers are still allowed to add supplementary funds to FSA accounts beyond the $2,500.