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.