Are air purifiers HSA eligible? Unfortunately, most health insurance plans will not cover the cost of an air purifier. However, there are some ways that you can use your flexible spending account (FSA) or health savings account (HSA) to save on the purchase of an air purifier.
If the primary purpose of the air purifier is for the diagnosis or mitigation of a medical condition, then it may be considered a medical-related expenditure and eligible for reimbursement from your FSA or HSA.
However, if the air purifier is purchased for general use, it is not likely to be eligible for reimbursement. So, be sure to check with your FSA or HSA administrator before making a purchase to ensure that you can get the maximum benefit from your account.
ARE AIR PURIFIERS HSA ELIGIBLE?
Here is all you need to know that your air purifier is HSA eligible or not.
WHAT IS A FLEXIBLE SPENDING ACCOUNT (FSA)?
A flexible spending account, or FSA, is a pre-tax medical benefits account that allows you to set aside money to cover eligible medical expenses that aren’t covered by your insurance plan.
The deduction of money from your paycheck for an FSA occurs before tax, so you effectively save on taxes while contributing to the account.
Your employer can also contribute to your FSA, but it is not obligatory. When you have incurred eligible medical expenses, you can then use the funds in your FSA to cover those costs.
There are generally two types of FSAs: healthcare FSAs and dependent care FSAs.
Healthcare FSAs can be used to cover a wide range of medical expenses, including co-payments, dental work, vision care, and prescription drugs.
Dependent care FSAs are specifically for parents who need to set aside money to cover child care expenses so that they can work.
You should consult with your human resources department if you have any questions about whether or not an expense is eligible for reimbursement from an FSA.
WHAT IS HEALTH SAVINGS ACCOUNT (HSA)?
A Health Savings Account (HSA) is a special type of savings account that can be used to cover healthcare expenses. HSAs are similar to Flexible Spending Accounts (FSAs), but they have a few key differences.
For one, HSAs are not owned by an employer – they are individually owned and controlled by the account holder. This means that you can roll over your HSA balance from year to year, and you are not subject to the “use it or lose it” rule that applies to FSAs.
Additionally, you can use your HSA to purchase a wide range of health-related items, including menstrual care products and over-the-counter medications.
However, you can only contribute to an HSA if you are enrolled in Medicare.
CAN I BUY AN AIR PURIFIER WITH MY HSA?
Many people are familiar with Health Savings Accounts (HSAs) as a way to save for medical expenses, but did you know that you can use your HSA to purchase an air purifier?
If you suffer from a medical condition such as asthma, allergies, or COPD, you can use HSA funds to pay for a purifier that can improve your indoor air quality and help you breathe more easily.
To use your HSA for an air purifier, simply select a model that meets your needs and budget, and then use your HSA debit card or check to pay for it.
You can also use HSA funds to cover the cost of installation and ongoing maintenance. So if you’re looking for a way to improve your indoor air quality, be sure to check whether an air purifier is covered by your HSA.
Letter of Medical Necessity for Air Purifier
A Letter of Medical Necessity (LMN) is required for an air purifier if you want to be eligible for a health savings account (HSA). The primary purpose of the air purifier must be for the treatment, diagnosis or cure of a medical condition.
The air purifier should be purchased only for this purpose. The LMN must state the medical necessity for the air purifier and how it will be used to treat the medical condition.
It is important to keep in mind that the air purifier must be purchased before you can submit your claim to the HSA. If you have any questions, please contact your HSA administrator.