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A FSA Debit Card is a type of debit card issued in the United States against a special tax-favoured spending accounts. These include accounts such as flexible spending accounts (FSA), health reimbursement accounts (HRA), and sometimes health savings accounts (HSA). An example of a Flexible spending account debit card with info edited out.
The Inventory Information Approval System, or IIAS, is a point-of-sale technology used by retailers that accept FSA debit cards, which are issued for use with medical flexible spending accounts (FSAs), health reimbursement accounts (HRAs), and some health savings accounts (HSAs) in the United States.
The FSA debit card was developed to eliminate "double-dipping", by allowing employees to access the FSA directly. It also simplified the substantiation requirement, which required labor-intensive claims processing. The debit card also enhances the effect of "pre-funding" medical FSAs.
Pay for them with your FSA debit card, or keep the receipts so you can submit all 2024 claims by March 31, 2025. Restock your medicine cabinet This is the least hot way to spend FSA money, but it ...
If you have money left on your FSA debit card, now is a good time to put it in your wallet alongside your regular bank debit card. The end of the year is the annual deadline to spend your FSA funds.
If you're not shopping directly in the FSA and HSA storefront, there's a helpful "FSA or HSA eligible" label right on the product. Shop our favorite FSA-friendly items below and don't let a penny ...