How will an FSA save me money? Because the money you contribute to a flexible spending account is taken out of your paycheck before taxes are taken out, you lower your taxable income, so you'll pay less during tax time! You are allowed to use these pre-tax funds to pay for qualified healthcare expenses that are not covered by your health plan, such as doctor visit copays, deductibles, prescriptions, dental and vision care expenses, and more!

I can buy THAT with my FSA funds? In addition to standard healthcare expenses, you can buy aspirin, cough medicine, allergy medication, antacids and many other things that you typically keep on hand for treating what ails you!  When you shop at drugstore.com it's easy to determine which products are FSA qualified products, because we mark them all on our site with our FSA icon. 

How do I order prescriptions from drugstore.com using my Flexible Spending Account? You can order your prescriptions by clicking on the Prescriptions tab in the top navigation. Simply follow the instructions on that page to place your order. If your plan provided you an FSA debit card, you may use it at checkout to pay for your prescription directly from your FSA funds. If your plan requires you to submit a receipt for reimbursement from your FSA, you may print your receipt when your transaction is complete. You may also access a receipt showing past prescriptions, and all FSA-eligible purchases, through the FSA/HSA Manager under 'your account'.

What is an inventory information approval system? And is drugstore.com an IIAS merchant? An inventory information approval system, or IIAS, is point-of-sale technology that identifies products as either eligible healthcare expenses or non-eligible healthcare expenses per IRS guidelines (IRC 213d). During the checkout process each item selected is checked for the inventory code, or icon, indicating it is eligible for purchase with flexible spending account funds. Only eligible products are allowed to be charged to an FSA debit card. If you have also selected non-eligible items, you will be prompted for a second form of payment for these remaining items. Merchants with an IIAS are referred to as "IIAS merchants".

Yes. Drugstore.com is an IIAS merchant. The process of limiting FSA debit cards to identified eligible products was developed in 2005 by drugstore.com. The Internal Revenue Service has since ruled that IIAS is officially required for all merchants accepting FSA debit cards (IRS Notice 2006-69).

How much should I contribute to my FSA?  That's a good question and because you lose any unused FSA funds, one you should consider it carefully. McNeil, a company that makes many of the most trusted, FSA-eligible over-the-counter medicines, provides this calculator to help you determine how much you should deposit in your flexible spending account. Your administrator may provide a similar tool. And remember, a wide selection of products that you use everyday is available at drugstore.com, so you'll enjoy maximum savings by using 100% of your FSA funds.

When can I sign up for an FSA?  FSAs are offered through your employee benefits and you can typically sign up only during your annual open enrollment period. If you are a new employee, you may be able to enroll outside the annual open enrollment period.  Check with your employer's benefits department for more details.  

How do I pay for healthcare expenses with my FSA funds? If your administrator provides a debit card, that's the easiest way to access your account. At drugstore.com you can use your FSA card at checkout and you won't have to file a claim. The money will automatically be deducted from your FSA account.  However, some administrators require you to submit a claim to receive reimbursement from your FSA account. When you shop at drugstore.com, we can help with that, too. Through our FSA Manager you can print a receipt that includes only your FSA purchases, making it easier for your administrator to process your reimbursement.

Click here to see more frequently asked questions regarding FSAs and the drugstore.com FSA Store.

*Your specific savings will depend on your personal circumstances, such as your income, how much you contribute into the FSA, your health, etc. Generally, participants save 15% - 30% on eligible items purchased using their FSA dollars. Source: fsaandyou.com