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8 ways to maximize Your Flex Spending Account before year-end
Tips for your Flex Spending Account
Do you know when your Flexible Spending Account (FSA) deadline is and how much money you have left in your FSA? The popular December 31 deadline is almost here. Each FSA is different, so be sure to contact your FSA administrator to find out when your plan year ends and how long you have to use your FSA.
Spend down your FSA with these 8 easy tips and give yourself time to relax during the holidays. If you just enrolled in an FSA for next year, these tips will be helpful if you want to use your FSA year-round.
- Check your remaining FSA balance and deadline.Keep track of your balance throughout the year and stay in touch with your FSA administrator, or check your FSA information online via your administrator’s website. Your FSA administrator is your main source for any FSA-related questions.
- Submit receipts and claims for FSA reimbursement. If you have an FSA debit card, you likely won’t have to worry about submitting receipts. Some FSA administrators require that you submit claims for reimbursement. It’s always good to hold onto receipts, just in case your FSA administrator requests a copy or if you need to submit a claim.
- Research eligible expenses. Curious about what’s covered with your FSA? Why not check on FSA eligible expenses? An FSA covers a variety of qualified expenses ranging from health care products, to dental and eye care, and out-of-pocket costs for health care services.
- Shop for FSA eligible products throughout the year as needed. If you have any over-the-counter products that you rely on during the plan year, there is still some time left to buy these. Shop bestsellers for some customer favorites with an FSA.
- Expecting a little one? Did you know breast pumps and accessories and other baby care items are FSA eligible? Shop for FSA eligible baby care items at FSAstore.com.
- Update a first aid kit or grab a few for on the road. Are you anticipating holiday travel? Having a first aid kit for your needs on the go is a good idea.
- Have you gotten a dental cleaning or scheduled an annual eye exam? Now is the time to see a health care provider before your FSA funds possibly expire.
- Vaccines are also covered by an FSA. As the flu season gets into full swing, you could gear up with flu shots.
Need to spend down fast? Discover 5 surprising products covered by your FSA.