Yes, the apple watch is FSA eligible. You can use it to track your daily activity and heart rate, as well as monitor your sleep cycles. The apple watch can also be used to make payments with Apple Pay.
The FSA, or flexible spending account, is a pre-tax account that allows you to set aside money each year to pay for qualified medical expenses. The FSA is administered by your employer, so check with your HR department to see if you’re eligible for one.
If you are, you can use the money in your FSA to pay for things like co-pays, prescriptions, and over-the-counter medicines. You can also use it to pay for health and fitness tracking devices like the apple watch.
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Are Smartwatches FSA eligible?
Yes, some smartwatches may be FSA-eligible. To find out if a specific product is FSA eligible, check with your insurance provider or healthcare provider.
Generally, products that are considered “durable medical equipment” (DME) are FSA eligible. Smartwatches that monitor fitness and/or health-related data may be considered DME and thus FSA eligible.
Source: https://fsastore.com/fsa-eligibility-list/f/fitness-tracker
Is Fitbit eligible for FSA?
Yes, Fitbit is eligible for FSA dollars. You can use your FSA dollars to pay for a Fitbit device, as well as Fitbit accessories and fitness tracking subscriptions.
Be sure to check with your employer to see if they have any restrictions on which types of health-related purchases they will reimburse.
Are health trackers FSA eligible?
According to the IRS website, “Generally, under the Affordable Care Act (ACA), you can only use health care Flexible Spending Accounts (FSAs) to pay for medical expenses that are not reimbursable by another source.”
So it seems that health trackers wouldn’t be FSA eligible.
Is a smartwatch HSA eligible?
Yes, smartwatches are HSA-eligible. However, there are a few things to keep in mind. First, not all smartwatches are HSA-eligible.
To be HSA eligible, the watch must meet certain criteria, such as being primarily used for medical purposes. Additionally, even if a smartwatch is HSA-eligible, the expenses associated with it may not be fully covered by the HSA.
For example, if you use your smartwatch to track your fitness data and receive health coaching through an app, you may only be able to deduct a portion of the cost of the watch itself.
Be sure to check with your plan administrator to see what expenses are covered by your particular HSA before making any purchasing decisions.
