Depending on your health plan, you may have HSA or FSA funds expiring at the end of the year. December 31st is the deadline to use funds for most major health insurance providers, and many have use-it-or-lose-it policies, so it is important to make the most of your money before year’s end. You may think of using these funds for things like copays, glasses, chiropractic care, but you may not know that you can also use these funds for air purifiers! Air purifiers are growing in popularity, and they are now recognized as preventative healthcare. Save money and use pre-tax dollars to effectively save 30-40% on an air purifier this year.
HSA vs. FSA: Understanding Your Healthcare Spending Accounts
Both FSA and HSA accounts allow you to pay for qualified medical expenses with pre-tax dollars. The two accounts have some slight differences that are important to be aware of for the best money management.
Flexible Spending Account (FSA)
FSA stands for Flexible Spending Account. FSAs are used to put money aside before taxes that can be used towards medical expenses. FSAs funds typically do not roll over and need to be used by the end of the calendar year (some employers may have some very limited roll over options). They are also controlled by your specific employer, so if you make a career switch, you will most likely lose the funds. FSA funds are available on the first day of your plan year, but they do not qualify for any investment opportunities. FSA limits are usually around $3,000 a year, but your specific funds will be dependent on what you elect your contributions to be each pay period.
Health Savings Account (HSA)
HSA stands for Health Savings Account. Like FSAs, HSAs are also used to set money aside before taxes that can be used towards eligible medical expenses. HSA funds are a part of employer provided benefits, but the funds belong to you. This means you can roll over funds, and if you leave your current employer, you can keep the funds you have saved up. One of the other major benefits of HSA funds is that the funds can be invested for long term growth potential. HSA funds are only available as you accrue them throughout the year, though. If you have a large medical expense at the beginning of the year, you won’t be able to use your HSA funds if you do not have enough saved up. Additionally, HSA funds are only available for those on high deductible healthcare plans, so they may not be an option for everyone.
Medical Necessity: Why Air Purifiers Qualify
For medical equipment to qualify for FSA or HSA funds, it needs to treat, prevent, or diagnose a disease. For those with medical conditions such as asthma, allergies, COPD, or compromised immune systems, the case is clear as to why air purification is necessary. Using an air purifier at home can improve comfort and increase overall respiratory health.
Recent research has shown that air purification is extremely beneficial, even for those without preexisting conditions. Purifiers help to reduce symptoms and irritation from pollution, pollen, chemicals, household allergens and more by filtering out the particles that cause them at the source. Additionally, recent research has shown that air purification can reduce the risk of harmful diseases like high blood pressure and dementia. The benefits of air purifiers may be even higher for at-risk populations like children, elderly adults, and those with pre-existing respiratory conditions.
Purchase Process
Some other medical devices may need approval for HSA/FSA spend, but PuroAir’s purifiers are already eligible to be purchased with these funds. PuroAir’s filters and purifiers meet all the requirements necessary for a high-quality product that can have a positive impact on your health. With up to 99.9% of particles filtered down to 0.1 microns in size, there is no debating that a PuroAir purifier can truly make a difference in your respiratory health.
To purchase a PuroAir air purifier with HSA/FSA funds, add your purifier of choice to your cart. You can also use your funds to make a one-time filter purchase. You cannot use the funds on subscription services. In checkout, select “checkout as a guest” and under Payment, select “TrueMed - Pay with FSA/HSA.” When you click “Pay Now” you will be taken to TrueMed’s site to enter your information and payment details. Once approved, you will receive an order confirmation and your purifier will be on its way!
Maximize Your Year-End Benefits
If you have an FSA fund and your money expires at the end of the year, you may be looking for ways to use up the funds in a way that will benefit you the most. Air purification is certainly important, and if you have enough funds, you can use them to protect your whole family.
- Multiple unit purchases: Consider purchasing multiple purifier units for full home coverage including main living areas and bedrooms
- Accessory additions: Add on replacement filters to your purchase while you have the extra funds to use. You will need to buy them throughout the year anyway, so might as well stock up now.
Tax Benefits and Long-Term Value
When you purchase an air purifier with your HSA/FSA funds, not only do you save 30-40% by using pre-tax dollars, but you are making an investment in your health that will pay dividends in the long term. By making healthy choices now, you are setting yourself up for a lifestyle of reduced risk, fewer doctors appointments and medications, better sleep and cognitive function, and improved comfort and wellbeing. Your health is the greatest asset you have. Protect it for years to come with healthy lifestyle choices and air purification.
Air purifiers will last for years when taken care of properly. One purchase this year can help protect your health for years to come. Filter replacements are an ongoing cost associated with air purifiers, but the good news is that you can use your HSA/FSA funds to save big on filters in the coming years as well. While not eligible for HSA/FSA funds, you can also consider enrolling in our subscription program. This saves you 25% and ensures that filters arrive at your door when you need them most. Plus while you are on the subscription program, your purifier has a lifetime warranty. This can give you peace of mind that whatever comes your way, air purification will be a constant you never need to worry about.
Evaluate your Needs and Use Your Funds
With the end of the year coming around the corner quickly, consider an air purifier purchase if you have extra FSA or HSA funds to spend. FSA funds will be lost if not used by December 31st, so use the funds to protect your respiratory health for years to come. Plus with fall allergies and cold and flu season on the way, you may find yourself needing a purifier now more than ever. With three months left in the year, now is the perfect time to evaluate your account balances and future medical needs. Check out PuroAir’s line of air purifiers here to decide which is best for you, and be sure to make your purchase by December 31st to make the most of your HSA/FSA funds this year.