Yes, a Samsung Galaxy Ring is eligible for reimbursement with a Flexible Spending Account (FSA) and Health Savings Account (HSA).
Why Is a Galaxy Ring FSA/HSA Eligible?
The Galaxy Ring offers comprehensive health monitoring features, including tracking of sleep patterns, heart rate, activity levels, and body temperature. These functionalities provide valuable health insights, aligning the device with medical expense criteria under IRS guidelines.
The Galaxy Ring stands out from other similar items that are typically ineligible for FSA/HSA reimbursement due to its comprehensive health-monitoring capabilities. While other wearable devices or smart accessories may offer general fitness tracking, the Galaxy Ring is explicitly recognized for its ability to monitor health metrics that align with IRS guidelines.
How to Purchase a Galaxy Ring With FSA/HSA Reimbursement
Follow these steps to purchase the Samsung Galaxy Ring using your FSA or HSA funds:
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Confirm Eligibility With Your FSA/HSA Provider:
Before making your purchase, verify that the Galaxy Ring qualifies as an eligible medical expense under your specific plan. While the device generally qualifies, policies can vary by provider.
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Purchase the Galaxy Ring:
Visit the Samsung Galaxy Ring page or an authorized retailer.
If purchasing directly from Samsung, customize your product, select your payment method, and complete your purchase.
Use a personal credit or debit card if FSA/HSA cards are not accepted at the point of sale.
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Save Your Receipt:
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Ensure you receive an itemized receipt that includes:
Name of the provider (e.g., Samsung).
Date of purchase or service rendered (must be within the FSA plan year).
Description of items/services rendered.
Itemized list of products purchased with UPCs (if applicable).
Total amount of purchase.
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Submit a Reimbursement Claim:
Log into your FSA or HSA portal and navigate to the claims section to initiate a reimbursement request.
Upload your itemized receipt and provide any additional information required by your provider.
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Maintain Documentation:
Keep all receipts and purchase-related documentation in case your FSA/HSA provider requests additional verification or for tax purposes.
While an LMN (Letter of Medical Necessity) is not required for the Galaxy Ring, retaining documentation about its health monitoring features may be beneficial.
