Last Minute Holiday Shopping with FSA Funds

The holidays are here, and while you’re busy decking the halls and stuffing stockings, you might have forgotten your Flexible Spending Account (FSA).

 If you’ve got funds left over, it’s time to put them to good use—or risk losing them altogether!

 From stocking stuffers to snowball fight survival kits, this FSA-approved guide will help you add a little festive flair (and practicality) to the season.

1. It’s Christmas Time… There’s No Need to Be Afraid..

You tried to make a Pinterest-worthy charcuterie board, but now there’s a cheese knife incident. Or maybe you attempted one of those TikTok DIY wrapping hacks, and got the papercut from hell.

 Either way, someone’s going to need a Band-Aid.

     •           Approved items: Band-aids, antiseptic wipes, gauze pads.

     •           Not approved: Your mother-in-law’s unsolicited critiques of your “rustic” wrapping job.

 2. Heating Pads for ‘Fowl’ Injuries

 Every family has an uncle who claims sitting through a 3-hour football game “was exhausting.”

 Or maybe it’s you, pulling a muscle lifting a 37-lb turkey out of the deep freezer.

 Either way, having one of these on hand can ease that back pain that you definitely didn’t understand until you turned 30.

 •       Approved items: Heating pads, reusable heat wraps, topical pain relief.

 •       Not approved: Using “football fatigue” as a reason to skip post-dinner cleanup.

(PS: if you haven’t already gotten it out, you’re probably eating undercooked turkey.)

 3. Nasal Strips: The Gift of Silent Nights

 Maybe it was the tryptophan. Maybe it was the third round of pie. If snoring turns into a literal sleep soundtrack, save yourself the noise-cancelling headphone purchase with nasal strips—your ears will thank you.

     •           Approved items: Nasal strips, saline sprays, humidifiers.

     •           Not approved: Bringing up your wife’s snoring in the family group chat.

 4. Sunscreen for Snowbirds

 Because nothing says #NoRagrets like coming back from your tropical escape looking like the honey-baked ham. Pack SPF, and if you must tan, do it the Luther Krank way. #freefrosty

     •           Approved items: Sunscreen, SPF lip balm, aloe vera.

     •           Not approved: Posting your Tahiti pics on Instagram. We don’t want to see that when it’s 5 degrees.

 5. Cold Packs for Snowball Fails

 It starts as a fun snowball fight, and then the guy who “would have gone pro” takes it too far. Cold packs are here for all the “oops” moments.

     •           Approved items: Reusable cold packs, instant ice packs.

•       Not approved: Using the snowball fight as an excuse to relive your high school varsity glory days.

 6. Thermometers for Holiday Hypochondria

 Someone always has “flu-like symptoms” because they Googled “can eggnog give you salmonella.” A high quality thermometer can help you decide if it’s the ‘meat sweats’, or something worse.

     •           Approved items: Digital thermometers, forehead thermometers.

     •           Not approved: Giving medical advice you got on TikTok

 7. Contact Lens Solution for Clear(er) Vision

 Between blurry holiday lights and trying to read the fine print on the gift receipts, vision clarity is key. Plus, you’ll need to see clearly to catch Cousin Andy cheating at Uno again.

     •           Approved items: Contact lens solution, eye drops, glasses repair kits.

     •           Not approved: Pretending to squint just to avoid the family photo.

 8. Over-the-Counter Medications for Festive Indulgence

 Whether it’s “one more round of eggnog” or Aunt Debbie’s insistence that you try her “improved” casserole, you’re going to need reinforcements. Enter antacids, your unsung holiday hero.

     •           Approved items: Antacids, allergy meds, pain relievers.

     •           Not approved: Wrapping these as a “white elephant” gift. Unless you really want to start a fight.

 Friendly Reminder

Just like the half-eaten candy cane the kids left on the floor of the car, your FSA funds won’t stick around forever.
From first-aid mishaps to snowball battles, there’s an FSA-approved item for every holiday situation.

 Spend smart, stay festive, and make adulting during the holidays a little easier.

Abbvie Names Magellan, EmpiRx, and CapRx in Amended Suit

Abbvie names Magellan, EmpiRx, and CapRx in amended filing targeting employer health plans use of financial assistance programs.

AbbVie is the manufacturer for the world’s most profitable drug of all time: Humira. Taking in over $200B in revenue with a >50% profit margin.

Long the thorn for employer health plans, Humira’s pre rebate cost is nearly $85k/year per patient.

Humira enjoyed monopoly status for two decades as AbbVie leveraged the court system to extend their patent protection and make deals with competitors to keep competing products off the shelves

The lawsuit brought by AbbVie targets PBMs and little known companies that exploit alternative funding arrangements for financial gain.

AbbVie, like many manufacturers offers financial aid for uninsured and underinsured patients.

Payer Matrix is one of those entities. We’ve seen contracts from PM that charge 27% of the savings for their assistance leveraging these financial aid programs.

Those savings fees rarely take into account the after rebate drug cost.

Thus, an employer can end up paying PM $22k for getting one patient their Humira for free through AbbVie’s assistance program.

PM isn’t alone in this game. Others like SHARx, ScriptSourcing, and even PBMs have gotten in the game. ScriptSourcing used to charge a 50% savings fee - I have the receipts.

Now AbbVie is crying fowl. Alleging racketeering and naming EmpiRx, Capital Rx, and Magellan PBMs as co-conspirators milking these programs and taking away funds from those in need.

These programs are opportunistic no doubt but it’s hard to sympathize with AbbVie who’s played the system better than anyone who’s come before. Remember: one drug, $200 Billion.

Now it’s off patent. Biosimilars are easily available for $800/month or less.

But Abbvie just moved the puck. Their focus is now on maximizing revenue on Skirizi and Rinvoq which come with even higher price tags.

It’s hard to argue that anyone can afford an $80k a year drug (or even $50k post rebate) when median household income is in the $50k range

So who should pay? Who can pay?

“It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication, and a government bureaucracy to administer it.”

-Dr. Thomas Sowell

Simpara Hosts 2nd Annual HEALTH x STL event at CITYPARK

On June 5, 2024 Simpara will host our 2nd annual HEALTH x STL heatlhcare innovation summit. The event is geared towards mid-sized employers in the region that are struggling to contain escalating healthcare costs.

HEALTH x STL is not just an event. It’s a movement where the brightest minds in business and health converge to share groundbreaking solutions for transforming health insurance and care.

Hear from the most innovative CEOs and Business Leaders who have eliminated deductibles, cut health spending in half, and restored meaningful wage growth to their number one asset.

Healthcare is already fixed. Join us to replicate the fixes and help transform our region.

LEARN MORE ABOUT OUR EVENT HERE: HEALTHXSTL.COM