Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) can save you a good chunk of money on health care expenses, but FSAs may only benefit you if you use all the funds in the same calendar year.
Can you buy a Teeter Inversion Table using your FSA and HSA card?
Yes! Teeter is the only inversion table registered with the FDA as a 510(k) medical device and may qualify as an HSA or FSA medical expense if approved by your plan administrator.*
Teeter is indicated for back pain, sciatica, spinal degenerative joint disease, herniated discs, muscle tension, degenerative disc disease, muscle spasm, spinal stenosis, spinal curvature due to tight muscles, and facet syndrome.
We make it easy to pay with your HSA or FSA card – just visit hsa.teeter.com
Use It or Lose It
Depending on the type of FSA program you’re on, one of three things could happen with your unspent FSA funds at the end of the calendar year:
- You may be able to carry up to $500 over into the next year.
- You may get a grace period of 2 1/2 months and be able to use you unspent funds within that timeframe.
- You will lose your unspent funds at the end of the year and start from square one on January 1st.
Check with your employer if you aren’t sure which of these three categories you fall into.
Every year, more than $400 million of earned money is forfeited because people forget to use their remaining balance before the deadline. So if you have remaining funds in your FSA, don’t let it go to waste!
*Some plans may require pre-approval of your purchase, so you should contact your plan administrator for more information on how to acquire appropriate documentation. You may need to request a ‘letter of medical necessity’ from your doctor recommending a Teeter Inversion Table to treat your specific back pain condition and submit to your HSA/FSA plan administrator. This letter establishes with your plan administrator that the inversion table is intended for medical purposes rather than personal use. Keep a careful record of all documentation with approval to purchase the inversion table from your plan administrator.
Teeter is not responsible for approving or verifying the approval of using your HSA or FSA debit card for your purchase and assumes no responsibility in the event of an audit or penalty for an unauthorized medical expense. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, medical or accounting advice.