If you suffer from arthritis, you know how painful and debilitating the condition can be. Fortunately, there are plenty of options available to help manage the pain, including compression gloves (also known as arthritis gloves).
But if you’re looking for a way to make them more affordable, you may be wondering if it’s possible to use your health savings account (HSA), Health Reimbursement Arrangement account (HRA) or flexible spending account (FSA) to purchase these gloves. Let's find out!
What is an HSA/FSA Account?
Before we get into whether or not you can use these accounts to purchase compression gloves, let’s first talk about what exactly an HSA, HRA or FSA account is.
A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP).
An FSA (flexible spending account), on the other hand, is an employer-sponsored benefit that allows you to set aside pre-tax dollars from your paycheck towards qualified medical expenses like doctor visits and prescriptions.
An HRA (Health Reimbursement Arrangement) account is an employer-funded plan that helps employees pay for medical expenses such as copays, deductibles, coinsurance and more. It allows employers to reimburse their employees up to a certain amount each year for medical care related expenses that are not covered by their health insurance plans.
These accounts offer a way for people with chronic illnesses like arthritis to save money on medical expenses. Unsure whether you have one of these accounts? Check with your employer to find out.
Can you buy compression gloves with an HSA or FSA account?
The answer is yes! The good news is that most compression gloves are eligible for purchase with HSA (Health Savings Accounts), FSA (Flexible Spending Accounts), or HRA (Health Reimbursement Accounts).
Grace & Able makes it easy to shop. Use your account card to buy your compression gloves from graceandable.com, just like you would with a credit card. There's no need for additional paperwork.
You can also buy compression gloves from other stores or websites that will not accept the FSA or HSA cards. You will need to pay upfront, retain a copy of your receipt and then submit expenses for reimbursement
Compression gloves can be an effective tool for reducing inflammation associated with arthritis and other hand ailments—and if you have an HSA, FSA or HRA account, chances are good that you'll be able to use it towards the cost of purchasing them.
These accounts can be great ways to offset some of the costs associated with managing chronic conditions like arthritis—so if this applies to you don't hesitate to take advantage!