Great question! When it comes to Wellness Spending Account (WSA) claims, understanding how purchases are dated can help you manage your funds effectively. One key factor to note is whether claims are tied to the purchase date or the delivery date.
Purchase Date Determines Which Plan Year Amount the Claim is Against
For WSA claims, the purchase date is what matters—not the delivery date. This means that if you buy an eligible item or service in one year and submit the claim during the grace period of the next year, the expense will be allocated to the funds for the year in which the purchase was made. For example, say you quickly made a WSA purchase on Dec 31st, right before your plan renews, but you know you have a WSA balance to use up from 2024 and a grace period to finish submitting claims - that's all good!
Even if the item is delivered in the following year, the claim is tied to when you paid for it.
Why It’s Important
This distinction can make a big difference when managing your WSA funds:
If you’ve maxed out your funds for a given year, a purchase made in that year cannot be applied to the next year’s allocation, even if delivery occurs later.
Knowing this ensures you plan your spending and claims submission accordingly.
What You Need for Reimbursement
To successfully process a claim, you’ll need to provide:
Proof of purchase: A receipt or transaction confirmation showing the date you paid for the item or service.
Grace Period Claims Explained
The grace period gives you extra time to submit claims for expenses made in the previous year. As long as you submit your claim within this period and include the required documentation, it will be applied to the year of purchase.
For WSA claims, the purchase date always determines which benefit year the expense applies to, regardless of when the item is delivered. Understanding this rule can help you avoid confusion and ensure you make the most of your benefits.
If you have any further questions about your WSA claims or need assistance with submissions, don’t hesitate to reach out—we’re here to help! You can email support@getmyhsa.com or open a live chat!