Tips to Help your Employees Optimize their FSA Funds

employee reviewing HSA fund options


Between planning for medical expenses, preparing for retirement and managing your day-to-day life, it can be easy to feel overwhelmed. The key to finding a rhythm that works for you is to start simple and utilize intuitive resources along the way to maximize the outcomes you wish to achieve.


One simple resource that can help put savings into perspective is a Flexible Spending Account (FSA). An FSA is a smart, simple way to help employees save on the medical, dental and vision expenses they already have - but it also can be used for so much more.


Take a look at these simply smarter tips to optimize your client’s employees' FSA funds and get the most out of their savings.


How to Optimize your FSA Funds

  • Tip 1: Plan Ahead

With any financial plan, it’s always best to get a decent head start. Consider how much you’ve spent this year and proactively plan for what you think you’ll spend next year. Have open discussions with your family and physicians to ensure that you are well prepared for what’s to come in the next plan year.

  • Tip 2: Know What’s Covered

The best way to ensure you’re using the optimum value of your FSA is to stay up to date with eligible purchases. Review your plan or visit the FSA Store to see all the products eligible for purchase. It just might save you time and money!

  • Tip 3: Use Your Clarity Benefit Card

Minimize paperwork, transfers, and withdrawals by utilizing your Clarity Benefit Card. It’s an easy way to pay for out-of-pocket medical expenses with the funds you’ve already set aside.


How can I use my FSA funds and money?

There are ways on how to use FSA funds and dozens of eligible purchases you can make using your FSA funds. Some traditional expenses include copays, prescriptions, vision and dental expenses that are not covered by insurance.


There are also many unique FSA-eligible items you may not have considered like over-the-counter medications, baby products, antibacterial ointments, vitamins, supplements and pain relievers.


The FSA Store is a one-stop destination for Flexible Spending Accounts where employees can easily buy FSA-eligible products, search for services and learn about your FSA. Employees can even save $25 off their first order.


How does an FSA Work?

Now that you have a deeper understanding of all the ways your employees can use their FSAs, let’s review some of the rules and regulations that apply to FSA accounts and purchases for employees and clients.


Employees choose the pre-tax amount they would like to contribute to cover out-of-pocket healthcare expenses. FSAs are a use-it-or-lose-it arrangement. Though a grace period is sometimes applicable if allowed by the employer, these funds need to be used by the end of the year.


FSA contributions are available immediately so there’s no need to wait for trickle-in paycheck allowances to the account. FSAs also provide an employer tax break with the benefit of employers not having to pay payroll taxes on any contribution an employee makes directly to their FSA.


What makes a Clarity FSA special?

When you choose a Clarity FSA for your employees, here are just a few of the benefits you’ll enjoy!

  • Seamless Card Substantiation

With a Clarity FSA, you enjoy an automated claim filing and card substantiation experience by linking plans directly to an employee insurance carrier. This significantly reduces and can even eliminate the need for employees to file claims and card substantiation paperwork.

  • Clarity Benefit Card

Give your clients’ employees easy access to all of their Clarity accounts by swiping the Clarity Benefit Card at the point of sale. This makes purchases fast and easy without the added hassle.

  • Industry-Leading Mobile App

Use the Clarity Mobile App to automatically validate prescription drug purchases and copays. This allows employees to view their balance and set up providers with automated direct payments, eliminating the need for receipts or paperwork.


Adding Value to Employee Benefits

Knowledge has the power to truly transform your life. At Clarity, we are dedicated to sharing value-forward content with our clients so that they can best serve their employees.


With our superior support and unmatched customer service, we not only help choose the right plans for you and your employees, but we are committed to assisting you every step of the way to ensure your employees are getting all the maximum use of the employee benefits.


If you’re ready to explore how an FSA can help transform the lives of your employees, contact us today to discuss your options!