Get to know at-home HSA and FSA eligible expenses for the elderly

As we age, the importance of maintaining safe mobility within our homes becomes critical. It is crucial to understand how you can save money on some common at-home expenses with  health savings accounts (HSA) and medical flexible spending accounts (FSA). From home modifications to adaptive equipment, let’s create an environment that not only nurtures well-being but also empowers independence and helps you save money.

Tailored home improvements: A gateway to comfort 

The ability to navigate one’s home is a fundamental aspect of leading a fulfilling life. Through HSA and FSA eligible expenses, elderly individuals have the means to amplify their comfort: 

• Ramps and railings: Installing ramps and railings can transform entryways and hallways, making them accessible and safe, even for those with mobility challenges. 
• Bathroom enhancements: Converting bathrooms into accessible spaces through additions like shower chairs, support bars, and widened doorways can greatly improve seniors’ daily routines. 
• Lighting and flooring: Adequate lighting and secure, non-slip flooring reduce the risk of falls.

Adaptive equipment: navigating life with confidence

Elderly individuals can find newfound independence through a range of adaptive equipment, all covered under HSA and FSA eligible expenses:

• Mobility aids: From walkers to wheelchairs, these aids enable seniors to move freely and confidently within their homes.
• Hearing assistance devices: Hearing aids ensure effective communication and connection.
• Home alert systems: These systems provide peace of mind by offering prompt assistance in case of emergencies.

Guide dogs and HSAs/FSAs

For those with visual impairments, guide dogs are not just pets. They are trusted companions that enhance daily life and home navigation. Their costs are often eligible under HSAs and FSAs, providing a bridge to increased independence.

Adult daycare and elder care 

Most importantly, adult daycare and elder care are only eligible under dependent care flexible spending accounts, so keep that in mind when assessing your options. Adult daycare and elder care expenses can be eligible for consideration, provided that three key conditions are met. 

Firstly, these expenses must not be related to medical services. Secondly, the elderly person in question should meet the criteria of a qualifying individual. Lastly, if the services are provided outside the employee’s household, it is essential that the elderly person still regularly spends at least eight hours each day in the employee’s household. It’s worth noting that while elder day care typically qualifies under these conditions, around-the-clock care in a nursing home does not. 

Check out our comprehensive eligible expense list for HSAs and FSAs!

The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers. 

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