Open Enrollment Season: How to Maximize Your FSA/HSA for Diabetes
Open enrollment season is one of the most important times of year if you or a loved one is managing diabetes. Your Flexible Spending Account (FSA) or Health Savings Account (HSA) can be a powerful tool to help cover the cost of everyday diabetes supplies — and many people don't take full advantage of it. This guide will help you make the most of every dollar before the deadline hits.
What Are FSAs and HSAs — and What's the Difference?
Both FSAs and HSAs let you set aside pre-tax dollars to pay for qualified medical expenses, which can lead to significant savings over the year. The key difference is that HSAs are only available with high-deductible health plans and roll over year to year, while FSAs are use-it-or-lose-it and available with most employer plans.
FSA: Employer-sponsored, funds must be used by year-end
HSA: Paired with high-deductible plans, funds roll over indefinitely
Both accounts accept pre-tax contributions, lowering your taxable income
HSAs can even be invested and grow over time like a savings account
Why Open Enrollment Is the Perfect Time to Plan for Diabetes Costs
During open enrollment, you decide how much to contribute to your FSA or HSA for the coming year — so planning ahead is essential. If you know your monthly diabetes supply needs, you can calculate a contribution amount that covers those costs without leaving money on the table.
Estimate your annual spending on test strips, CGM sensors, and insulin
Factor in pump supplies, lancets, and glucose meters
Review last year's out-of-pocket costs as a helpful baseline
Consider adding a buffer for unexpected supply needs or prescription changes
Which Diabetes Supplies Are FSA/HSA Eligible?
The good news is that most essential diabetes supplies qualify as FSA and HSA eligible expenses. Knowing what's covered helps you stock up strategically and avoid paying out of pocket for things your account can handle.
Blood glucose monitors and test strips
Continuous glucose monitor (CGM) sensors and transmitters
Insulin pump supplies including tubing and reservoirs
Lancets and lancing devices
Insulin and diabetes medications (with a prescription)
How to Use Your FSA Before It Expires
If you have an FSA, the end of the year can sneak up on you — and unused funds are typically forfeited. A smart move is to use remaining FSA dollars to stock up on diabetes supplies you know you'll need in the months ahead.
Order extra test strips or CGM supplies before December 31
Purchase a backup glucose meter as an emergency spare
Stock up on lancets, alcohol swabs, and other consumables
Check your FSA balance online and set a reminder to spend before the deadline
Tips for Getting the Most Out of Your HSA Long-Term
Unlike FSAs, HSAs give you the freedom to save and grow your funds over time, making them a smart long-term strategy for diabetes care costs. You can even save your HSA for future healthcare expenses in retirement, when diabetes management costs can be higher.
Contribute the maximum allowed amount each year if your budget allows
Keep receipts for all diabetes-related purchases for reimbursement
Consider investing a portion of your HSA for long-term growth
Use HSA funds for big-ticket items like CGM systems or insulin pumps
How MDS Diabetes Makes It Easy to Use Your Benefits
MDS Diabetes carries a wide range of FSA and HSA eligible diabetes supplies, making it simple to use your benefits on the products you trust. Shopping with MDS Diabetes means you get competitive pricing, reliable products, and friendly support — all in one convenient place.
Shop Diabetes Supplies at MDS Diabetes
Ready to make the most of your FSA or HSA this open enrollment season? Visit mdsdiabetes.com to browse our full selection of FSA and HSA eligible diabetes supplies, from CGM sensors to test strips and pump accessories. Have questions? Our team is always happy to help — give us a call at (877) 861-3571 and let MDS Diabetes help you stretch your healthcare dollars further.
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