Buzz
For those with a flexible spending account (FSA), the rule is clear: utilize your funds before the year ends or risk losing them. While scheduling last-minute doctor visits might be challenging, your remaining FSA dollars don’t have to go unused. Explore other eligible healthcare expenses to make the most of your account. As the year winds down, review your FSA balance and strategize how to allocate any remaining funds.
Purchase over-the-counter essentials
A wide range of over-the-counter health products qualify for FSA spending, such as painkillers, cold remedies, first-aid supplies, oral care items, and feminine hygiene products. Take inventory of your medicine cabinet and jot down what you need to replenish. Consider grabbing epsom salt for $24.99, Supergoop! sunscreen for $38.00, or even a high-quality massage gun for $299.99.
Upgrade your eyewear with new glasses or contacts
If your eyesight isn’t perfect, consider using your FSA funds to update your prescription for glasses or contact lenses. Additionally, remember to include eye drops and lens cleaning solutions in your purchase.
Invest in orthopedic support products
Items like knee braces, wrist supports, compression stockings, and similar orthopedic aids can alleviate ongoing pain. Utilize your FSA funds to reduce the expense of these essential products.
Pay in advance for scheduled medical procedures
For medical procedures planned early next year, many providers permit pre-payment of estimated costs using FSA funds before the current year ends. This applies to services like dental treatments, physical therapy, chiropractic sessions, Lasik surgery, and more.
Key takeaway
No matter how you decide to use your FSA funds, ensure they don’t go unused. These funds are part of your earnings, so review your employer’s policies regarding balances remaining by December 31st to avoid losing them. For a detailed list of eligible items, visit the FSA store here.
