Why not double down on Amazon’s Prime Day sales by purchasing health care products tax-free?
Employees with Health Savings Accounts and Flexible Spending Accounts can both take advantage of Amazon’s AMZN, 0.93% Prime Day (the much-hyped two-day period in which the retailer offers deals for Prime members) and enjoy the tax-free benefits of their accounts. BothHSAs and FSAsare employer-sponsored plans where workers contribute a percentage of their salary before taxes to spend on out-of-pocket medical expenses tax-free.
Individuals can attach their HSA or FSA cards on Amazon as a payment option, or use their personal credit cards and ask their health plan administrators or employers for a reimbursement, according to theretail giant. (Previous purchases can also be submitted for reimbursement). Amazon has a subsection dedicated to FSA- and HSA-eligible productstoo.
There are a plethora of products available for HSA and FSA spending, although patientsmay not know it. Sunscreen, first-aid kits, hearing aid batteries, contact solution and even neck pillows are eligible. Unlike an HSA, FSA funds must be depleted by the end of the year or the employee will lose that money. HSAs, on the other hand, can last well into retirement, and many account holders will save and invest those assets for their future medical spending.
Amazon’s Prime Day sales boast big screen televisions, e-readers and fitness trackers, but there’s a whole list of marked-down items that benefit the elderly. Here are a few:
Desk-length wheelchair:Thiscarbon steel framewith cross braces and dual-embossed upholstery comes in four seat widths and numerous legrest options.
Price: About $260 with 20% off
Bluetooth-connected blood pressure monitor:This upper arm blood pressuremonitorallows users to track and share results with an app, and share that information with loved ones and caregivers.
Price: $64.99 but with 20% off
Denture cleaner tablets:These highly rated anti-bacterialcleaning tabletshelp clean dentures and remove plaque or tartar.
Price: $11.22 (usually $21.11)
Price: $31.99 (usually $69.99)
Price: $21.56 (usually $35)
Carbon fiber cane:An adjustable, light weightwalking canewith $12 in savings.
Price: $46.32 (usually $57.90)
Folding walker:This walking aid is lightweight, narrow andcan be folded.
Price: $99 (usually $125)
Price: $59.99 (usually $74.99)
Infrared forehead thermometer:This battery-poweredthermometercan measure a person’s temperature without contact.
Price: $26.90 (usually $33.62)