Navigating Your Target Flexible Spending Account: A Complete Guide

If you're looking to make the most of your target flexible spending account, you're in the right place! From face wash and supplements to medical devices, there are many items eligible for FSA spending that might surprise you.

Quick Answer: The most important rule with your flexible spending account is "use it or lose it." Here are some FSA-eligible items you can find at Target:

• Skincare: Face wash, acne treatments, moisturizers
• Eye Care: Eyeglasses, contact solutions, eye drops
• Medical Devices: Thermometers, blood pressure monitors
• Baby Care: Diapers, baby wipes, infant thermometers
• First Aid: Bandages, pain relief, antiseptics

Stay tuned as we dig into more details on each category in this guide.

My name is Ashley Gawley, a seasoned pro in flexible spending accounts and your guide to navigating the myriad of eligible items. I've leveraged my expertise from the corporate world to help everyday consumers maximize their FSA and healthcare-related savings.

A Flexible Spending Account (FSA) is a special account you can use to pay for certain out-of-pocket healthcare costs. It's an excellent way to save on medical expenses because the money you put into an FSA is not taxed. This means you get to spend pre-tax dollars on eligible healthcare items, saving you a significant amount of money.

Tax Benefits

One of the main perks of an FSA is its tax benefits. When you contribute to an FSA, the money is deducted from your paycheck before taxes. This reduces your taxable income, which can lead to substantial tax savings. For example, if you earn $50,000 a year and contribute $2,000 to an FSA, you could save around $600 in taxes, depending on your tax rate.

Employer Limits

Employers set the limits on how much you can contribute to your FSA. According to the IRS, the maximum contribution limit for 2021 was $2,750, but this amount can vary. Your employer might also choose to set a lower limit. It's essential to check your company's specific guidelines to know your exact limit.

Use-It-Or-Lose-It Rule

The most crucial rule to remember about FSAs is the use-it-or-lose-it rule. Typically, you must spend the money in your FSA within the plan year. If you don't, you risk losing any unspent funds. However, some employers offer a grace period of up to 2½ extra months (until March 15 of the following year) or allow you to carry over up to $550 into the next year. Unfortunately, employers can only offer one of these options, so know which one applies to your plan.

By understanding these basics, you're already on your way to maximizing the benefits of your Flexible Spending Account (FSA). Next, we'll explore how to use your FSA at Target, including eligible items and the checkout process.

How to Use Your Flexible Spending Account

Using your Flexible Spending Account (FSA) can be simple and convenient, whether you're shopping online or in-store. Here's everything you need to know to make the most of your FSA.

Eligible Items

Your FSA funds can be used on a wide range of health-related items. Here are some categories of eligible items:

• Medical Devices: Blood pressure monitors, thermometers, and hearing aids.
• Over-the-Counter Medicine: Pain relievers, allergy medications, and cold remedies.
• Personal Care: Sunscreens, acne treatments, and moisturizers.
• Baby Care: Diapers, baby wipes, and infant medicine.
• First Aid Kits: Bandages, antiseptics, and pain relief items.

Thanks to the CARES Act, you can now also use your FSA for over-the-counter medicines without a prescription and period care products.

Steps to Use Your FSA Card

Online Shopping

1. Browse Eligible Items: Visit the FSA Store to find a curated list of FSA-eligible products.
2. Add to Cart: Select the items you need and add them to your cart.
3. Checkout: During checkout, select your FSA card as the payment method. Ensure your card is affiliated with MasterCard, Visa, or AMEX.
4. Submit Order: Complete your purchase. You will receive a confirmation email with your order details.

In-Store Shopping

1. Locate Eligible Items: Look for FSA-eligible labels on products throughout the store or ask a store team member for assistance.
2. Add to Cart: Place the items in your shopping cart.
3. Checkout: At the checkout counter, inform the cashier that you will be using your FSA card. Swipe your FSA card just like a regular debit or credit card.
4. Receipt: Keep your receipt for your records, as you may need it for reimbursement or future reference.

Tips for a Smooth Checkout Process

• Double-Check Eligibility: Make sure the items you're purchasing are FSA-eligible. If in doubt, ask a store associate or check the product label.
• Keep Receipts: Always keep your receipts in case you need to provide proof of purchase for FSA reimbursement.
• Split Payments: If your FSA balance is low, you can split the payment between your FSA card and another form of payment. Just inform the cashier before swiping your cards.

By following these steps, you can easily use your Flexible Spending Account to purchase the health-related items you need. Next, we'll dive into some of the top FSA-eligible items available.

Top FSA Eligible Items at Target

Using your Target Flexible Spending Account (FSA) can help you save money on a variety of health-related products. Here are some of the top FSA-eligible items you can find at Target:

Skin Care Products

Acne Treatment: Struggling with breakouts? Products like Hero Cosmetics' Invisible Mighty Patch are FSA-eligible. These patches help reduce redness and lessen the appearance of blemishes.

Anti-Aging: Keep your skin looking youthful with anti-aging creams and serums that are FSA-eligible. Look for brands like Neutrogena and CeraVe.

Moisturizers: Hydrate your skin with FSA-eligible moisturizers. Popular options include those from brands like Aveeno and Cetaphil.

Sunscreens: Protect your skin from harmful UV rays with FSA-eligible sunscreens. Options like Supergoop! Unseen Sunscreen SPF 40 and La Roche-Posay Anthelios Mineral Ultra-Light Fluid Broad Spectrum SPF 50 are excellent choices.

Eye Care Products

Eye Drops: Relieve dry eyes with FSA-eligible eye drops. Brands like Visine and Refresh offer effective solutions.

Contact Lens Solutions: Keep your contact lenses clean and comfortable with FSA-eligible solutions from brands like Opti-Free and Biotrue.

Eye Masks: Soothe tired eyes with FSA-eligible eye masks. Look for options that provide cooling relief and reduce puffiness.

Dietary Supplements

Vitamins: Boost your health with FSA-eligible vitamins. Options include multivitamins, vitamin D gummies, and vitamin C supplements.

Minerals: Support your body's functions with FSA-eligible mineral supplements like magnesium and iron.

Probiotics: Improve your gut health with FSA-eligible probiotics from trusted brands like Garden of Life and Nature’s Bounty.

Protein Powders: Improve your fitness routine with FSA-eligible protein powders. Brands like Vega and Orgain offer a variety of flavors and formulations.

First Aid Essentials

Bandages: Stock up on FSA-eligible bandages for minor cuts and scrapes. Brands like Band-Aid offer a range of sizes and types.

Antiseptics: Keep wounds clean with FSA-eligible antiseptics like hydrogen peroxide and rubbing alcohol.

Pain Relief: Alleviate pain with FSA-eligible pain relief medications. Options include ibuprofen, acetaminophen, and topical pain relievers.

Wound Care: Ensure proper healing with FSA-eligible wound care products like gauze pads and medical tape.

Baby Care Items

Diapers: Keep your baby comfortable with FSA-eligible diapers. Brands like Huggies and Pampers offer a variety of sizes and styles.

Baby Wipes: Clean up messes with FSA-eligible baby wipes. Look for options that are gentle on your baby's skin.

Infant Medicine: Treat common infant ailments with FSA-eligible medicines. Options include fever reducers and gas relief drops.

Baby Thermometers: Monitor your baby's health with FSA-eligible baby thermometers. Digital and forehead thermometers are reliable choices.

By knowing which items are FSA-eligible, you can make the most of your Target Flexible Spending Account and ensure you and your family have the health products you need. Next, we’ll answer some frequently asked questions about using your FSA at Target.

Frequently Asked Questions about Target Flexible Spending Account

Can I use my FSA at Target?

Yes, you can use your Target Flexible Spending Account (FSA) at Target for a variety of health-related purchases. Target accepts FSA cards for eligible items both online and in-store. Just make sure your FSA card is affiliated with a MasterCard, Visa, or AMEX. If you want to split the payment between your FSA card and another payment method, you can do so by calling Target's customer service.

What can I purchase with my Flexible Spending Account?

Your Target Flexible Spending Account can be used to buy a wide range of health-related products. Here are some examples:

• Skin Care Products: Items like acne treatments, anti-aging creams, moisturizers, and sunscreens.
• Eye Care Products: Eye drops, contact lens solutions, and eye masks.
• Dietary Supplements: Vitamins, minerals, probiotics, and protein powders.
• First Aid Essentials: Bandages, antiseptics, pain relief medications, and wound care products.
• Baby Care Items: Diapers, baby wipes, infant medicines, and baby thermometers.

For a comprehensive list, you can check out dedicated FSA sections on Target's website or visit the FSA Store.

How does the Flexible Spending Account work?

A Flexible Spending Account (FSA) allows you to set aside pre-tax dollars to pay for eligible healthcare expenses. Here's how it works:

1. Set Up: Your employer offers an FSA, and you decide how much money to contribute (up to a limit set by the IRS, which was $2,750 for 2020 and 2021).
2. Contributions: The money is deducted from your paycheck before taxes, lowering your taxable income.
3. Use It or Lose It: Typically, you must use the funds within the plan year, or you might lose them. However, some employers offer a grace period or allow you to carry over a small amount to the next year.
4. Eligible Expenses: Use your FSA funds to pay for eligible healthcare expenses, including many over-the-counter items, medical devices, and personal care products.

For more detailed information, you can visit the IRS website.

By understanding how to use your Target Flexible Spending Account, you can make the most of your healthcare dollars and ensure you have the necessary health products for you and your family.

Conclusion

Navigating your Target Flexible Spending Account (FSA) can seem daunting, but it's quite straightforward once you understand the basics. By using your FSA wisely, you can save money on essential health-related products while ensuring you and your family stay healthy.

Glow Therapy: Your Partner in Skincare

At Glow Therapy, we offer luxurious, non-surgical skincare devices designed to reduce wrinkles, fine lines, and blemishes using advanced light therapy. Our products are clinically proven and dermatologist-approved, making them a great addition to your skincare routine. And the best part? Glow Therapy products are FSA-eligible, allowing you to use your pre-tax dollars for effective skincare solutions.

Explore Glow Therapy's Red Light Therapy Mask and start your journey to radiant, youthful skin today.

Summary

• Flexible Spending Accounts (FSAs) allow you to set aside pre-tax dollars for eligible healthcare expenses.
• Target offers a wide range of FSA-eligible items, including skincare products, eye care solutions, dietary supplements, first aid essentials, and baby care items.
• You can use your FSA card both online and in-store at Target.
• Make sure to check your employer's specific FSA guidelines regarding grace periods and carryover limits.

Benefits of Using Your FSA

• Tax Savings: Contributions to your FSA are made with pre-tax dollars, reducing your taxable income.
• Convenience: Easily purchase a variety of health-related products at Target, both online and in-store.
• Health and Wellness: Ensure you have access to essential health products without breaking the bank.

Final Tips

1. Plan Ahead: Estimate your healthcare expenses for the year to avoid losing any unused FSA funds.
2. Check Eligibility: Always confirm if an item is FSA-eligible before purchasing.
3. Use Allotments Wisely: Take advantage of your FSA to stock up on necessary health products and services.

By understanding and utilizing your Target Flexible Spending Account, you can maximize your healthcare savings and ensure you have all the necessary products to maintain your health and wellness.

For more information on how Glow Therapy can help you achieve your skincare goals, visit our Red Light Therapy Mask page.