FDA Clearance + ECG monitor mean Series 4 is now an eligible HSA expense?

[smarks90]

Kind of an odd question but curious how I can go about figuring this out...

I was able to expense a BT at home Blood Pressure monitor several months back as this was an "HSA Eligible" expense. I'm curious to see if I will be able to expense my series 4 given the fact that this is now an FDA cleared "medical device" of sorts. I'm sure I'll have to do more research but just curious what people's thoughts were.


"Medical testing devices are eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), or a health reimbursement arrangement (HRA). Medical testing devices are not eligible with a dependent care flexible spending account (DCFSA) or a limited care flexible spending account (LCFSA).

What are medical testing devices?

Medical testing devices are products that perform medical tests. They are usually designed for at-home use, in order to spare time and expenses associated with visits to the doctor's office or the hospital. Medical testing devices are eligible for reimbursement with consumer-directed healthcare accounts whether purchased as Over-the-Counter (OTC) or with a prescription. Medical testing devices measure things like cholesterol, blood tests, blood pressure, asthma, blood coagulation, and more. "

Thoughts?

 

[cwanja]

Contact your insurance / HSA provider. That will likely be the best solution. No one knows specifically.

 

[matrix07]

My guess would be yes, it is.

 

[cwanja]

Also Google. The initial search returned this:
Fitness Tracker: requires a Letter of Medical Necessity (LMN) to be eligible

Likely going to be the case.

 

[smarks90]

Contact your insurance / HSA provider. That will likely be the best solution. No one knows specifically.

I know, I know this was more of a "imagine how nice that would be" sort of post. I suspect not but when one starts talking FDA, they can truly talk "Medical Device" and with that language, there may open some doors as far as possibilities. some insurance providers have already started majorly subsidizing AWs for their customers due to added health benefits. interesting to see how things develop.
[doublepost=1536796492][/doublepost]

Also Google. The initial search returned this:
Fitness Tracker: requires a Letter of Medical Necessity (LMN) to be eligible

Likely going to be the case.

true. but when you start talking ECG you've moved on past "fitness tracker" BUT it will be how they ultimately decide to classify it.

 

[cwanja]

I know, I know this was more of a "imagine how nice that would be" sort of post. I suspect not but when one starts talking FDA, they can truly talk "Medical Device" and with that language, there may open some doors as far as possibilities. some insurance providers have already started majorly subsidizing AWs for their customers due to added health benefits. interesting to see how things develop.
[doublepost=1536796492][/doublepost]

true. but when you start talking ECG you've moved on past "fitness tracker" BUT it will be how they ultimately decide to classify it.

There was another thread going about having their insurance COVER it all. Not use an FSA or HSA. Most of the guidance in that thread was going to require of LMN.

 

[cwanja]

Just for my own fun, I called my HSA and talked to someone. All they did was point me to an IRS document that DOES NOT explain if it is covered or not. Your mileage might be better.

 

[scmill]

Wouldn’t hurt to try it. All they can do is say no.

It depends on what plan you have, but UHG is actually supplying the AW for their Motion program:

https://www.unitedhealthgroup.com/newsroom/2018/0307motionapplewatch.html

 

[KPOM]

I’m a CPA (Illinois) but don’t specialize in taxes. I’d be cautious. Don’t get the Hermès Double Tour and claim it as a medical expense. But see if you can find a tax attorney willing to take a case to Tax Court over a $399 basic model.

 

[smarks90]

my HSA is simply a visa debit card that allows me to buy whatever I want and simply categorize and supply receipt on the HSA's website. I'd suppose the only issue would be in the IRS or other decided to try and dispute something at tax time. I'd assume the chances are slim. Either way, I will be paying for the series 4 out of pocket and once I find out whether or not it is an approved device, I will simply reimburse myself from my HSA. easily done and reduces the headache of trying to get a firm answer now.