New 23andMe Health Service is FSA & HSA Eligible

Simply in time for end-of-the-year well being financial savings account spending, 23andMe is providing a brand new standalone “Well being Service” choice for folks seeking to apply their HSA & FSA funds towards buying an at-home DNA take a look at.

This presents one other choice to prospects who solely need to delve into stories about their well being predispositions,* service standing,* or wellness. The brand new standalone service additionally makes it simpler for U.S. residents to make use of cash put aside of their Versatile Spending Account (FSA) or Well being Financial savings Account (HSA) for his or her 23andMe Well being Service buy. 

 

Eligible Expense

An Internal Revenue Service ruling in 2019 first allowed prospects to make use of FSA & HSA funds for a portion of the associated fee for his or her Well being + Ancestry Service. The brand new Well being Service makes that a lot easier as a result of the complete price could also be eligible. 

In the US, FSAs and HSAs each assist you to put aside a certain quantity of your pre-tax earnings every year for certified medical care bills. Certified medical care bills could embrace things like co-pays for physician’s visits, prescription medicines, glasses, and sunscreen.

The rule additionally means the complete price of the 23andMe Well being Service must be an eligible medical expense. You may examine along with your FSA/HSA administrator for eligibility.** 

23andMe Well being Service

The standalone 23andMe Well being Service consists of greater than 10 well being predisposition stories for circumstances* equivalent to Sort 2 Diabetes (powered by 23andMe analysis), Celiac Illness, Age-Associated Macular Degeneration, and Parkinson’s Illness; in addition to greater than 40 service standing stories* for circumstances like Cystic Fibrosis and Sickle Cell Anemia. Clients additionally obtain wellness stories on sleep motion, muscle composition, and genetic weight.

As well as, the Well being Service consists of well being motion suggestions, in addition to a life-style dashboard that compares your food plan and exercise to different 23andMe customers. The service additionally features a place to trace lab outcomes and an space the place you’ll be able to see insights from 23andMe analysis. You too can join, message, and share with family and friends if you want. 

You may study 23andMe’s different product choices here

FSA v. HSA

It’s necessary to grasp that whereas the definition of what’s an eligible medical expense that’s lined beneath each FSAs and HSAs is similar, the eligibility for and phrases of those two sorts of accounts are totally different.

As an example, FSAs are a profit supplied by an employer and have a decrease contribution restrict. 

Up to now, cash in FSA plans couldn’t be carried over into the following 12 months, so staff needed to “use it or lose it” – that’s, in the event that they didn’t spend the funds they’d put aside, they might lose these funds. However through the pandemic, a grace interval allowed people to make use of 2020 FSA funds by the tip of 2021 and from 2021 by the tip of 2022. HSAs, alternatively, can be found to people enrolled in a high-deductible well being plan (HDHP), and that cash can roll over 12 months to 12 months.  

You could find out extra concerning the two sorts of accounts here

To study extra about 23andMe’s new Well being Service, go to the FSAStore here or go to Amazon here


*The 23andMe PGS take a look at consists of well being predisposition and service standing stories. 23andMe well being predisposition stories embrace each stories that meet FDA necessities for genetic well being dangers and stories that are primarily based on 23andMe analysis and haven’t been reviewed by the FDA. The take a look at makes use of qualitative genotyping to detect choose clinically related variants within the genomic DNA of adults from saliva for the aim of reporting and decoding genetic well being dangers. It isn’t meant to diagnose any illness. Your ethnicity could have an effect on the relevance of every report and the way your genetic well being danger outcomes are interpreted. Every genetic well being danger report describes if an individual has variants related to a better danger of growing a illness, however doesn’t describe an individual’s total danger of growing the illness. The take a look at is just not meant to let you know something about your present state of well being, or for use to make medical selections, together with whether or not or not you need to take a medicine, how a lot of a medicine you need to take, or decide any therapy.  Our service standing stories can be utilized to find out service standing, however can’t decide in case you have two copies of any genetic variant. These service stories are usually not meant to let you know something about your danger for growing a illness sooner or later, the well being of your fetus, or your new child little one’s danger of growing a selected illness later in life. For sure circumstances, we offer a single report that features data on each service standing and genetic well being danger. For necessary data and limitations concerning every genetic well being danger and service standing report, go to 23andme.com/test-info/.

**Examine along with your particular FSA/HSA advantages coordinator and/or your tax skilled for affirmation on the particular necessities for reimbursement together with eligibility, utilization, procedures and {qualifications}. 

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