Make your period tax-free with Saalt
This tax season, there may be a way to save your wallet and upgrade your period care at the same time. By utilizing your health insurance reimbursement or through tax-back initiatives, you can save money on common and some lesser-known period items like menstrual cups, menstrual discs, period underwear, and cleaning items.
What is an FSA, HSA or QSEHRA?
Flexible spending accounts (FSA) and health savings accounts (HSA) are accounts that let you set aside money before it’s been taxed to help pay for health and medical expenses. These plans are commonly provided by most major insurance companies in the United States. HSAs are gaining popularity as an investment vehicle with their triple tax-free advantage but are only available to those enrolled in a high deductible health plan. It is important to note that FSAs run on the calendar year and expire, unlike HSAs. Finally, a less common option for employees of small businesses is the qualified small employer health reimbursement arrangement or QSEHRA which provides a more flexible and holistic benefit where plan holders can use their designated funds to purchase insurance and health-related expenses on a calendar year.
What period products are reimbursable?
In 2020, the CARES Act changed its coverage to expand reimbursement for period products for folks with a Flexible Savings Account (FSA) or a Health Savings Account (HSA). Like most insurance-related things, these offerings often have messy language and are not easy to navigate for consumers. The majority of FSA account holders have dollars that go unused at the end of the calendar year. Pro tip: If you have unused dollars from the previous year make sure you check with your insurance contact as many programs have a grace period to use the funds in the next calendar year.
How to get fully reimbursed for period products
Once you determine how much you have to spend, using these funds is relatively simple. Saalt is registered with the governing body to ensure all Saalt Cups, Discs, and Saalt Wear period underwear are fully reimbursable with both FSA & HSA providers. If you have a physical FSA/HSA debit card, you can shop and checkout on-site using your card online. If you don’t have your card handy, you can pay with a personal card and submit your receipt for reimbursement just as you would a doctor’s bill or pharmacy receipt. For reimbursement, many providers will require an itemized receipt which you can reach out to customer service at saalt.com to provide.
What products are covered?
Saalt works with Sika Health to pre-approve all menstrual period cups, menstrual discs, and Saalt Wear period underwear with the major insurance carriers. In addition, accessory items to extend the length of your product like the Saalt Wash, the Saalt Travel Kit, and the Saalt Steamer are also covered. For a hassle-free reimbursement look for “Sika-Pay with FSA” at checkout to verify that the items in your cart are reimbursable and automatically get an itemized receipt sent straight to your inbox.
Treat yourself to an underwear and period care upgrade this tax season at https://saalt.com/ .
