FSAstore.com in Chicago Tribune
The Chicago Tribune recently published an article reminding Americans with a Flexible Spending Account (FSA) that the spending deadline is fast approaching for some. Those who have a December 31 FSA plan-year deadline were reminded to use their remaining dollars, before it's too late.
Of course, not every person enrolled in a Flexible Spending Account has the December 31 deadline, and some people even have deadline extensions such as a Grace Period or Carryover option. This really depends on the plan and varies per employer. If you're not 100% sure which option applies to you, or when your deadline may be, now is a good time to check in with your FSA administrator on your account to see what your timeline is, and what your leftover balance is. There's still time to spend down an FSA, but with the holidays approaching, it's good to get started on that sooner rather than later.
"The year is nearly up, which means that you've got very little time to empty out your Flexible Spending Account.
These accounts save you about 30 percent on out-of-pocket medical expenses by letting you use pre-tax dollars on eligible medical, pharmaceutical, dental and eye care costs — but the challenge is determining which products are qualified before the money in your account expires.
There are about 35 million Americans covered by an FSA, and the average account holder will leave $170 in that account at the end of the plan year of calendar year, according to a 2014 VISA survey.
That's money you could be spending on everything from glasses to Band-Aids to sunscreen. Need more ways to spend that money that's sitting in your account? We grilled the experts to find some creative ways to spend it so that your money won't be wasted."
Read the full Chicago Tribune article viahttp://www.chicagotribune.com/lifestyles/sc-cons-1210-flexible-spending-account-solutions-20151207-story.html
Have a December 31 deadline? Shop at FSAstore.com and use your remaining dollars for FSA-eligible products!