Use Your Flexible Spending Account Funds Before It’s Too Late

December 26, 2012 | By | Comments (1)

FSAThe frenzy of the holidays is over, so now is the time to make sure that you haven’t overlooked using all the money in your flexible spending account (FSA).

FSAs let you set aside pre-tax dollars to pay for medical expenses that your health insurance doesn’t cover (like bandages, prescription drugs, and meeting your deductible).While these accounts are great for consumers, they have a downside: If you don’t spend all your FSA money by December 31, you lose it. (Some employers offer a grace period, so check with yours for plan specifics.)

Take a few minutes and check your account balance before the end of 2012. If it’s at $0, great. But if you have funds remaining that you need to spend, go to FSAstore.com to purchase eligible items and services.

COMMENTS

  1. Flexible Spending Account

    Pissed? Damn right! $2,500 in FSA gone because the employer didnt mentoin that funds are not rolling over. A week before year’s end and i gotta spend all this FSA money on eyedrops? Band-aids? WTF?!!

    February 18, 2013 at 12:25 pm

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