With 2022 coming to a close, many Americans have just over two weeks to make the most of their Flexible Spending Account (FSA) – or risk losing their pre-tax dollars that have been set aside.
To help make this season easier for consumers, and ensure that money doesn’t go to waste, Instacart has released two new features. The goal of the new features is to make it easier for shoppers to know what items are eligible for FSA or HSA (Health Spending Accounts), and allow consumers to put that money to good use for their families.
“At Instacart, we want everyone to have access to the food and products that help them thrive,” wrote Sarah Mastrorocco, vice president and general manager of health for Instacart. “These new in-app features are an example of our Instacart Health initiative at work – technologies like product tags and health-focused pop-ups can make the shopping experience more seamless, convenient, and connected. We’re committed to continuously creating innovative solutions that help people more easily meet their personal health needs.”
Instacart has released two new features that are now available in the app to make it easier for consumers to spend their FSA funds before they expire at the end of the year.
For starters, the app will feature FSA- and HSA-eligible product tags. Instacart reported that approximately 40,000 items available on the app have been appropriately flagged to indicate that they’re eligible to be purchased with FSA or HSA dollars. In addition to tagged items automatically populating as shoppers scroll through the app, a complete list of FSA and HSA-eligible items are available by searching those terms in the app.
The other new feature is the FSA and HSA Shop that’s now live on Instacart. This link has compiled all of the FSA and HSA-eligible items into one convenient location. By shopping at the link, consumers can see the full range of products that can be purchased with FSA or HSA funds.
The list of eligible items includes: at-home COVID-19 tests, contour glucose test strips, NyQuil, Mucinex, Vick’s VapoRub, cough drops, vitamins, hand sanitizer, sunscreen, tampons, thermometers, Band-Aids, eye drops, contact lens solution, mouthwash, Pedialyte, and more.
Both new features can help consumers make the most of their FSA and HSA funds before they’re set to expire at the end of 2022. It’s important to note that Instacart doesn’t accept direct payments from FSA or HSA cards, but consumers can submit their receipts with all eligible purchases to their insurance companies to receive reimbursement from their accounts.