Have unused FSA funds to spend before 2024 is over? Here's an idea — consider taking advantage of the after Christmas mattress sales to purchase a smart bed. Below are three deals we think are worth using your tax-free dollars on, including the Eight Sleep Pod 4 Ultra on sale from $4,299 after $400 off at Eight Sleep.
Of course, many of the best mattresses aren’t FSA-eligible outright. You’ll often need to obtain a Letter of Medical Necessity (LMN). While we here at Tom's Guide understand how important sleep is to our health, the government naturally requires additional information before approving FSA reimbursements for such purchases.
Fortunately, for the smart bed deals listed below, obtaining an LMN is often a simple process you can do online by answering a few questions, although you may need to wait 24-48 hours to receive it. If you qualify, you can use your FSA funds before they expire and maximize your savings. (That alone may help you sleep a little easier at night.) Here are the best FSA-eligible deals in this year’s after Christmas mattress sales...
3 after Christmas mattress deals eligible for FSA
What is an FSA — and is it the same as an HSA?
A Flexible Spending Account (FSA) is an employer-sponsored plan that allows you to set aside up to $3,300 per year to cover eligible medical expenses. These include copays, deductibles, prescription and over-the-counter medications, and certain medical equipment, including some mattresses. With an FSA, unused funds don't roll over from year to year, so you have to use them or lose them.
A Health Savings Account (HSA) is for individuals with a High Deductible Health Plan (HDHP), regardless of employment status. Unlike an FSA, an HSA allows you to carry over unused funds into the following year, making it a more flexible long-term option for healthcare expenses. In either case, FSA and HSA funds are tax-exempt.
