A flexible spending account (FSA) is a benefit plan set up with your employer that allows you to voluntarily withhold pre-tax dollars from your paycheck to pay for qualified health care expenses. Contributing to your FSA is a cost-effective way to reduce your taxable income and save money on health care essentials.
Additional Information: Purchases of many over-the-counter medications will only be eligible for pre-tax healthcare account reimbursement when they are purchased with a prescription. Read details here (PDF 138kb), or visit the IRS website for more information. In many cases, up to $500 of unused FSA funds can be carried over to the following year. Click here for more information.
|Cough, Cold, Allergy||Mobility Equipment|
|Contact Lens Care||Blood Pressure Monitors|
|Eye Drops||Diabetic Supplies|
|First Aid||Sexual Wellness|
|Pain Relievers||Vitamins & Supplements|
With your FSA debit cardWhen you use your FSA debit card for qualified purchases, your account is automatically deducted, with no need to submit receipts.
With cash or creditWhen you pay by cash or credit, submit the receipts from these purchases to your insurer for reimbursement.
What does FSA mean?
FSA stands for Flexible Spending Account. An FSA allows you to voluntarily set aside a portion of your paycheck to pay for approved health care expenses. The money you put in your FSA is deducted from your paycheck before taxes are taken out, which means that you'll have less income to report at tax time and more money in your pocket. If FSA funds are not used by March 15 of the year following contribution, the funds are forfeited and cannot be rolled-over to the next year or refunded.
How do I know which products are FSA-qualified?
Qualifying items online are marked with an FSA symbol to make them instantly recognizable. In stores, your receipt at checkout will clearly identify qualified products with an "H" to the right of the item code (UPC), as well as provide a subtotal of the FSA-eligible purchases.
Our systems are designed to recognize qualified items based on eligibility requirements in IRS guidelines. When a FSA debit card is used to purchase items, only items that meet the requirements will be debited from the FSA. Non-eligible items must be paid for with another form of payment.
Program eligibilities vary, and only your plan administrator can tell you which products and services qualify.
New Restrictions: Beginning Saturday, January 1, 2011, purchases of many over-the-counter medications will only be eligible for pre-tax healthcare account reimbursement when they are purchased with a prescription. Read details here (PDF 138kb), or visit the IRS website for more information.
How do I pay for eligible health care items with my FSA funds?
When you shop online at Walmart.com, you´ll email or print out and submit the purchase confirmation page to your FSA account administrator for reimbursement.
When shopping in-store at your local Walmart, you´ll have two options:
What is the Walmart item validation / substantiation program?
Participating FSA Processors Cards and an eligible item list are maintained within the Walmart system.
When a participating card is presented for payment, Walmart´s cash registers will only charge the FSA card for the eligible items. Non-eligible items will require payment with cash, check or another form of payment.*