You can use your FSA and HSA money to buy a new smart ring—here’s how
If you’re considering investing in a smart ring to track your well-being, you might also consider using the FSA and HSA dollars you’ve got stashed away to buy one. Popular rings including the Galaxy Ring, Oura Ring, Ultrahuman ring Air and Round ring are now eligible for FSA and HSA.
Although there are differences between the two accounts, flexible spending accounts and health savings accounts are tax deductible and give people a little break while paying for healthcare services, products and medications, which are notorious in the US for being expensive. Smart rings like the Oura Ring and Galaxy Ring are primarily health trackers, which is why they are eligible for FSA or HSA reimbursement.
How to buy a smart ring with your FSA or HSA dollars
If you want to buy a Galaxy Ring with FSA or HSA funds, Samsung says it does this via its websitepurchase as you normally would with a debit or credit card, then send your receipt to your FSA or HSA plan so you can get a refund. Samsung said you can also buy from a third-party retailer, such as Best buy and still be reimbursed.
If you want to use your FSA or HSA money to buy an Oura ring, you can use your FSA or HSA card directly via the Oura website.
Before you buy a smart ring with plans to get the costs reimbursed, it’s a good idea to contact your FSA or HSA plan ahead of time to make sure you’re covered. If Oura outlinesplans may establish their own eligibility rules and additional documentation may be required for reimbursement.
A Galaxy Ring costs $400while the Oura ring starts at $300 and goes up based on your color and design preference. Notably, Oura has a $6 monthly subscription fee to access its health features, while the Galaxy Ring does not. (Oura says the membership fee is also HSA and FSA eligible.) Learn more about how the two smart rings compare and what you need to know about the brand new Oura Ring 4.
Check this out: Samsung Galaxy Ring Review: Health and fitness tracking on your finger
What other health perks can you use your FSA and HSA dollars for?
You may be surprised at the long list of items open for purchase or reimbursement with FSA or HSA cards. Everything from eye care and glasses, regular medications, tampons, doctor appointment costs and much more ‘natural’ therapiessuch as massages. In other words, if it’s used to keep you healthy and is costing you money, it’s worth checking to see if you can use your FSA or HSA dollars on it.
If you have some health care money in your pocket (especially those FSA dollars, which don’t carry over into the new year), take inventory of your current health care needs, where you tend to spend money and what you spend your money on. you could spend on FSA and save yourself some money in the end. You can also search specifically for FSA or HSA items at popular department stores and review CNET’s list of FSA-eligible items.
Read more: Short test report Samsung Galaxy Ring: my favorite smart ring, without a doubt
