What is an HSA/FSA?
A Health Savings Account (HSA) is a pre-tax account that lets you set aside money for qualified healthcare expenses. Typically, you can sign up for an HSA when you sign up for a High Deductible Health Plan. These accounts are individually owned so the funds roll over each year and you can take them if you leave your job.
A Flexible Spending Arrangement (FSA) is an employer-offered benefit plan that lets you set aside money for qualified healthcare expenses. You can sign up for an FSA if your employer offers this option. It’s important to remember that FSA funds do not roll over at the end of the year (unless your employer allows it) and they immediately are returned to your employer if you leave your job.
Spending with your pre-tax HSA/FSA funds helps you to save 30% to 50% on qualified health expenses. And we’re here to help you maximize your savings.
Sika makes it easy to discover and spend on qualified items at your favorite brands. Just look for Sika at checkout and start spending smarter today.
How do I know which items are qualified to purchase with HSA/FSA funds?
Qualified items with chips like the one shown below indicate that your HSA/FSA funds are accepted with them. As you’re shopping, be on the lookout for the product chips that help you save with your HSA/FSA dollars! And don’t forget to choose the Sika payment method when you get to checkout.
What is a Letter of Medical Necessity?
An LMN, or Letter of Medical Necessity, is like a doctor’s note. It’s issued by a healthcare provider to outline the medical reasons why a particular product or service is medically necessary for an individual’s health and qualifies your purchase to be HSA/FSA eligible. LMNs demonstrate that an expense is needed to diagnose, treat, or alleviate a medical symptom, rather than for general health or wellness purposes.
Symptoms that may qualify for an LMN?
Diabetes, High blood pressure, Arthritis, Heart disease, osteoporosis etc.
Why do I need a Letter of Medical Necessity?
If you want to use your HSA/FSA funds to purchase Ice Barrel’s products, you’ll need a Letter of Medical Necessity (LMN), and we’ve partnered with Sika to help you.
Certain products are eligible for purchase with HSA/FSA funds if they treat, cure, prevent, diagnose, or alleviate a medical need. For instance, items like bandaids are always eligible as they serve a sole medical purpose. However, there are “dual-eligible” products that can be used for general health and wellness or for specific medical purposes—if recommended by a healthcare provider based on your individual needs. Take iron supplements, for example; many use them to support their overall health. Yet, for someone with anemia, iron supplements become crucial. In such cases, individuals can use their HSA/FSA funds if their healthcare provider issues an LMN, recommending the supplements specifically to address their anemia.
How do I get a Letter of Medical Necessity?
You can request a Letter of Medical Necessity through Sika. If you’re approved, you’ll be able to check out using your HSA/FSA funds for your qualified purchase.
To request an LMN on Home & Heat you will:
- Chat with a certified healthcare provider to evaluate if you qualify for an LMN
- Complete intake forms, similar to how you would at a doctor’s office
- Consult with our team of healthcare providers, who will determine if you are eligible
Once you have your LMN in hand, you can return to shop as usual. During checkout, you’ll simply select the Sika payment method to utilize your HSA/FSA funds.
How long does it take to get approved for a Letter of Medical Necessity?
Sika’s healthcare provider team strives to respond within 12 business hours after you submit your LMN intake forms.
What information will I need to provide for a Letter of Medical Necessity?
To see if you’re a candidate for a Letter of Medical Necessity, similar to other telehealth experiences, you’ll be asked to share your name, contact information, date of birth, and information about the symptoms you are experiencing and your medical history. We will also verify your phone number and ask you to upload a photo ID to verify your identity.
The information you provide in the LMN process will be kept confidential and shared only with our healthcare providers to evaluate your eligibility for an LMN.
I was approved for an LMN. How do I make a purchase?
Once you’re approved for a Letter of Medical Necessity, proceed to homeandheat.com, add the relevant item(s) to your cart, and check out with Sika using your HSA/FSA card. Please use the same email address at checkout that you used to apply for an LMN. If you don’t have your HSA/FSA card handy, you can pay with debit/credit and apply to your HSA/FSA administrator for reimbursement.
After purchase, Sika will email you a receipt and the LMN. Please upload your receipt and LMN to your HSA/FSA administrator’s website to substantiate your order or request reimbursement if you paid with debit/credit.
How do I submit my Letter of Medical Necessity to my HSA/FSA provider?
After you complete a purchase using an LMN, you will need to submit your Letter of Medical Necessity and your receipt to substantiate the purchase if you paid with your HSA/FSA or to get reimbursed if you paid with your credit/debit card. To do this:
- Log into your HSA/FSA account on your benefit administrator’s website
- Find the Reimbursement or Claims section
- Upload your receipt and Letter of Medical Necessity
Your administrator will process and evaluate your claim. Please note that some HSA/FSA benefits administrators may incorrectly deny reimbursement, so before purchasing a product with an LMN you should consider contacting your administrator to determine if your purchases will be covered/reimbursed.
If you are having trouble locating your itemized receipt or LMN, please contact Sika at support@sikahealth.com
What if I want to buy something that is not HSA/FSA qualified?
No worries, you can check out with Sika even if your cart contains a mix of items that are HSA/FSA qualified and non-qualified. When you choose Sika, we’ll split your basket and show you the amount you can pay with your HSA/FSA card. You’ll also be prompted to pay for the remaining items with a credit/debit card.
What if I don’t have my HSA or FSA card with me right now?
Even if you don’t have your HSA/FSA card handy, you can still choose the Sika payment method and check out with your credit/debit card. We will then follow up with an itemized receipt that you can submit to your HSA/FSA administrator. Sika's receipts are in a form accepted by HSA/FSA administrators to ensure that you can reimburse yourself worry-free with your tax-free dollars even when you don’t have your card on hand.
What if I’m running low on my HSA or FSA funds and don’t know my remaining balance?
If your balance is too low to cover your payment, we’ll tell you exactly how much is remaining so that you can spend down to the very last penny. For the remaining amount, just use your non-HSA/FSA debit or credit card and we’ll handle the rest. (Note that some plan administrators do not make the remaining balance eligible to display to customers, in which case you should contact your administrator directly.)
Can I use Sika to spend my HRA?
Unlike HSAs and FSAs, HRAs (or Health Reimbursement Accounts) are specifically funded and owned by your employer. As a result, these accounts might have more strict requirements on how funds can be spent. If you are looking to spend with your HRA funds, it's best to check with your plan administrator or employer first.
What happens to my HSA/FSA funds at the end of the year?
HSA Account Holders
If you have an HSA account, there’s nothing to worry about. Your HSA funds automatically roll over so nothing will change.
FSA Account Holders
If you have an FSA account, you should be aware of your deadline to spend down your account and if your account allows for a certain amount of the funds to roll over. The deadline for FSA accounts is typically the end of the year – December 31st. Some accounts may have a grace period, which typically extends the deadline to March 15th of the following year. Other accounts may have a rollover amount that allows up to $615 (for 2023 plans) to be rolled over to next year’s plan. We recommend you contact your FSA administrator or HR team to understand if your FSA plan has a grace period or allows for rollover.
Note: all purchases, refunds, and reimbursement requests must be completed before the FSA deadline.
Why was my HSA/FSA transaction declined when I tried to purchase an item marked “HSA/FSA accepted”?
Transactions may be declined because of a number of different issues, such as insufficient funds, inaccurate card number entry, or zip code or CVV mismatch. If your transaction fails, you may complete it with a different payment method and then submit the receipt to your HSA or FSA plan administrator for reimbursement.