Yes, cold medicine is eligible for reimbursement with a Flexible Savings Account (FSA) or Health Savings Account (HSA).
Why Is Cold Medicine FSA/HSA Eligible?
Cold medicine qualifies for reimbursement under a Flexible Spending Account (FSA) or Health Savings Account (HSA) because it is designed to treat specific medical symptoms associated with the common cold. According to IRS guidelines, expenses for medications that alleviate or manage medical conditions are considered eligible.
Cold medicine typically includes active ingredients such as dextromethorphan (a cough suppressant), guaifenesin (an expectorant), or acetaminophen and ibuprofen (pain relievers and fever reducers). These ingredients target symptoms like coughing, congestion, sore throat, and body aches, providing effective relief for individuals suffering from cold-related discomfort.
The eligibility of cold medicine is rooted in its role as a treatment for a temporary medical condition that affects normal functioning. It is not intended for general wellness but instead addresses specific health issues, ensuring compliance with the requirements set forth by IRS Code Section 213(d). By covering cold medicine, FSA/HSA plans help individuals manage acute illnesses and maintain productivity during recovery.
How to Purchase Cold Medicine With an FSA/HSA
Buying cold medicine using your FSA/HSA is straightforward. Go to buyFSA.com or the buyFSA app to make an online order. Add selected items to your cart on the product page by clicking the shopping cart icon below the image.
Check the order in your cart by selecting the shopping bag icon in the top right corner. Once you’re happy, select the checkout button to make your payment. Add your contact, delivery, and FSA/HSA card information to the checkout page in the spaces provided. Click pay now (FSA/HSA) to complete your purchase.
You can also pay using your regular credit card. Simply provide your credit card details at checkout. Upload your payment receipt for submission to your FSA/HSA provider, including the following essential information:
Name of the provider
Date of purchase or service rendered (the services rendered must be within the FSA’s plan year)
Description of items/services rendered
Itemized list of products purchased with UPCs (if procuring items at a retailer that doesn’t accept FSA cards or if using a regular credit card)
Total amount of purchase
