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Millions of Americans use medical marijuana. Is it covered by their FSAs? [Fortune]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Once a fringe substance, weed is now mainstream , and millions of Americans use it to treat a host of medical ailments including chronic pain and nausea . Currently, 24 U.S. states have legalized overall consumption of weed, and another 14 states allow medicinal use, according to a recent report from the Pew Research Center. Around 2.5% of U.S. adults, or 8.3 million people, said they have used marijuana under their physician's authorization, according to 2020 research from the American Journal of Preventive Medicine (AJPM). But for those who partake legally and medicinally, one question remains: do flexible spending accounts, or FSAs, cover cannabis? FSAs are an arrangement in which employees can set aside up to $3,200 of their pre-tax income annually to pay for out-of-pocket medical costs. That money can be used for healthcare expenses like deductibles, copayments, and qualifiable prescription drugs. What exactly qualifies as a medical expense isn't always clear, but one thing'
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