What are FSA/HSA and how do I know if I'm eligible?

A Flexible Spending Account (FSA) and a Health Savings Account (HSA) are tax-advantaged accounts that allow you to use pre-tax dollars for medical expenses, including prescriptions and copays. FSAs are typically employer-sponsored and feature a "use-it-or-lose-it" policy where funds must be used within the plan year. HSAs are available to those with a high-deductible health plan and offer more flexibility, allowing funds to roll over annually.

Eligibility is determined by the IRS. To qualify, a customer must have a medical condition or disease they are seeking to treat or manage. Documentation, often a Letter of Medical Necessity, is required to confirm this. Soocas has partnered with Flex to make this process quick and easy for our customers.