Use it or Lose it: Flexible Spending Accounts

It is fairly common for people to have flexible spending accounts (FSA). Did you know that if you do not spend the money you have deposited into your FSA, you may lose it? This is your hard earned money and you deserve to benefit from it.

Flexible Spending Accounts

Most plans allow you to purchase over the counter health related supplies such as aspirin and bandages. Did you know you may be able to use your FSA towards the service of your medical equipment such as a cpap repair or oxygen concentrator repair? Whether you need a regularly scheduled annual Preventive Maintenance or an unscheduled repair, your FSA funds may be able to help pay for it. It may also pay for accessories such as oxygen cannula’s and concentrator filters.

If your FSA issued you a debit card with the Visa or Mastercard logo on it, you may be able to use that to pay for your service. If you don’t have a FSA debit card, you may be able to be reimbursed by submitting our receipt.

No matter what you decide to use your FSA funds on, just remember to do so before the end of the year.

Bob DeChello is the President and Co-Owner of Altra Service Professionals, Inc, a full service Medical Equipment Repair company located in Ocala Florida. Bob has over 14 years experience in the HME industry with a focus on distribution and cost reduction. Prior to joining ASP, Bob worked as the Director of Operations for Critical Homecare Solutions, a national HME, Infusion, & Home Healthcare company. He spent four happy years with the CHS team with primary responsibilities including new acquisition operations integration, overseeing the centralizing of various departments, writing and implementing policy and procedures, and managing respiratory related purchasing agreements. Prior to CHS, Bob worked for Professional Home Care Services, a regional HME provider located in New England, for almost 10 years where he was the warehouse & distribution manager. Bob lives in the Ocala Florida area with his wonderful wife and 2 energetic boys. Bob enjoys doing anything that involves spending time with his family. The DeChello family moved to Florida in 2008 to get away from the cold New England winters, but enjoy visiting friends and family there. Prior to moving to Ocala, they lived in the Jacksonville Florida area for 4 years.