People who have Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs) as part of their health insurance plans may submit their receipts for purchasing the EyeGiene® Insta-Warmth™ System. Refill orders for Warming Wafers also qualify for reimbursement.
EyeGiene Product Purchases Eligible Expenses for FSAs and HSAs
Dry Eye Disease is a recognized affliction by the medical community. So, treatments for dry eye disease are included as qualifying medical expenses for FSA and HSA reimbursement. Our EyeGiene System and Refills are “over the counter” items that do not require a prescription. But they still qualify!
What is a Flexible Spending Account (FSA)?
An FSA is a program set up through your employer that lets you pay for many out-of-pocket medical expenses with pre-tax dollars. Expenses covered include insurance copayments and deductibles, some prescription drug purchases, insulin, and medical devices, for instance. These are expenses not otherwise covered by your insurance plan.
How Does the FSA Reimbursement Process Work?
For an FSA account, the money has accumulated pre-tax during the year, but needs to be spent before the end of the year. Any unspent money is forfeited rather than returned to you. So, you must spend the money on medical supplies and services before the end of December.
There is a grace period for submitting your receipts for reimbursement in an FSA. That typically runs 60 days into the next year, in this case 2022.
What is a Health Savings Account (HSA)?
An HSA is a savings account that works similarly to the FSA. You most often set up an HSA in combination with a high-deductible health insurance plan rather than through your employer. Monthly premiums are excluded, but deductibles, copayments, coinsurance, and some other expenses (similar to the FSA) can be reimbursed.
Unlike the FSA, HSAs allow contributions to roll over into the next year.
EyeGiene Insta-Warmth Masks and Refills are a Qualifying Medical Expense for FSAs and HSAs
Our Insta-Warmth eye compress system for the treatment of dry eye disease has been reviewed by the FDA and is an over-the-counter Dry Eye treatment developed by a US Board-Certified Ophthalmologist. So, keep your receipts, and order your Winter EyeGiene System and Refills by December 31, 2021 to be able to claim reimbursement from the funds remaining in your FSA or HSA.
We wish you the best of health, and continued relief from any dry eye symptoms as we head into the Holiday season and 2022!