Consumer Value Stores and the New Whealthwatchers.com

That's what "CVS" stands for. Bet you didn't know that.

I bet you also didn't know that CVS now marks with an "F" each item on your receipt that is HSA or FSA eligible. That is to say, it's tax-deductible if you own a Health Savings Account. I didn't know that either, until I received an excited phonecall about it from my future sister-in-law. I did know the CVS thing, though. I win.

Here's an article about it.

Oh, don't get confused by the fact that Publix puts an "F" next to all the food items on your grocery receipt.

Also, check out the new look of whealthwatchers.com. It's under construction, but it looks pretty awesome.

1-800 Contacts

I have an exciting development to report. I have used my HSA card for the very first time, and made a purchase, using pretax dollars, of an eligible product. I went on 1800contacts.com to check out the prices for contacts that I last bought at Costco (where I was unable to use my HSA card because they don't have the proper vendor code), and upon viewing the homepage, saw that FSA (Flexible Spending Account, an inferior predecessor of the HSA) cards can be used to purchase contacts. I called customer service to check if I could use my HSA and they said "yes". Even though the contacts are quite a bit cheaper at Costco, it's a long drive for me, and I was able to finally put my HSA card to the test. It was just like using a normal credit card. This kind of stuff will only get easier.

I should note that, even if one cannot use one's HSA card at Costco's Optical department, as long as the receipt is retained, one may reimburse oneself with HSA funds by doing a transfer to a personal account or writing a check. It's an extra step that takes away some convenience, though.

Here are some statistics and U.S. Treasury documents from HSA Insider.