Five Easy Ways to Comply with the Rules and Get the Most Out of Your Healthcare FSA.

1. Know Who’s Eligible
Your Healthcare FSA covers qualified healthcare expenses for you and your eligible dependents. Eligible dependents include a spouse, children under the age of 26, and children over age 26 who are tax dependents. Domestic partners are eligible if they qualify as tax dependents.  

2. Know What’s Eligible
There are hundreds of healthcare expenses that are eligible for reimbursement under your Healthcare FSA. Generally, eligible expenses include medical, dental, and vision care services and products that are medically necessary to treat a specific medical condition, office visits, diagnostic tests, and immunizations. Look up a specific eligible expense, or log into your Kazdon account to see a complete list.

3. Keep Your Receipts
The IRS has specific rules for Healthcare FSAs and you always have to verify expenses with receipts. Save receipts for each eligible expense you submit for reimbursement under your Healthcare FSA. Make sure receipts include the following five pieces of information:

• Patient’s Name. The name of the person who received the service or for whom the item was purchased. For retail store purchases, this information may be excluded.
• Provider’s Name. The provider that delivered the service or the merchant where the item was purchased.
• Date of Service. The date when services were provided or the item was purchased.
• Type of Service. A detailed description of the service provided or item purchased. A bag tag is sufficient for prescriptions.
• Cost. The amount paid for the service or product and/or the portion that is not reimbursed through your insurance carrier.

Kazdon is required to verify that all purchases made with your Kazdon Healthcare Card are for eligible expenses, so we may ask you to send copies of your receipts to verify card transactions.

4. Watch Where You Shop
Get reimbursed for your eligible expenses quickly. Use the Kazdon Healthcare Card associated with your Healthcare FSA at pharmacies, healthcare providers, and general merchandise stores that have an IRS-approved Inventory Information Approval System in place when you check out. (Check out this list of approved merchants). 

5. Monitor Your Account
Kazdon makes it easy to manage your Healthcare FSA. Log into your Kazdon account via the secure web portal or the Kazdon mobile app regularly to check balances, view claims, verify expenses, upload copies of receipts, and more! Sign up to receive text and email alerts so you won’t miss important notices and always know what’s going on with your account.