Life since COVID-19 has introduced shifts in how Americans approach home, work and health. While some of those areas have slowed down, others are even more active than usual.
Here are three ways to manage kids, health and finances in the middle of social distancing.
Managing kids at home
With schools all over the country sending kids home, parents can use a Dependent Care Flexible Spending Account to help with child care needs.
A Dependent Care Account allows parents who meet certain requirements* to pay for in-home child care. This includes a babysitter or family member.
Regardless of what your child care situation looks like, now is a good time to lean on your Dependent Care FSA.
Another thing that social distancing hasn’t changed is ongoing health needs.
Managing health during social distancing
There has been a run on the stores for many basic household items like toilet paper, soap and hand sanitizer. On top of that, many people still have basic health needs to meet, like prescriptions or baby formula.
Keep your family’s health moving forward with online purchases and telemedicine services.
Keep your family’s health moving forward with online purchases and telemedicine…
What can you buy** with your flexible spending account (FSA) or health savings account online?
More than you might imagine.
Use the FSA Store lookup to find out which health items can be delivered directly to your door.
What if I have an HSA or a Limited FSA?
You can still take advantage of making online health-related purchases.
Limited Purpose FSA: This account can only be used to pay for dental or vision-related items. Many eyeglass carriers have online shopping sections you can peruse before making a final purchase.
HSA: If you have an HSA, any items listed as eligible in the FSAStore lookup will be eligible under an HSA, too. Jump over to HSAStore to purchase them and then sit back and wait for your delivery.
Items to protect against COVID-19 can also be purchased (like thermometers). When it comes to COVID-19 testing, finances are also on people’s minds. Here’s how to manage that last component.
Managing finances
In the middle of uncertainty, especially around job security, many workers are looking to save.
Some are also taking proactive steps to receive testing for COVID-19.
The IRS recently released guidance about using high deductible health plans to pay for COVID-19 testing.
Covering all your bases
Pretax accounts are there to help you manage kids, health and finances. Learn how else you can take advantage of the pretax benefits your employer provides.
