Living Well

2020 FSA Deadline Shop By Price Guide: Our favorite FSA eligible staff picks

With 2020 coming to a close, and the holiday rush in full swing, we can forgive you if you have let your FSA deadline shopping slide until the last minute! According to our surveys of our FSAstore.com audience, more than 50 percent of respondents said that they have more money to spend this deadline season than they did in 2019, so many FSA users have excess funds they need to spend down in a hurry to avoid forfeiting these hard-earned dollars at the deadline.

We have put together a FSA Deadline Spending Guide to help you get started, but with some FSA users having less than $100 to spend and some having more than $1,000, we've also created a "Shop by Price" function on our home page to help direct you toward our hottest eligible products at the price points you need.

And to give you an extra helping hand, we've compiled our staff's favorite products by price to help give you a bit of shopping inspiration:

Under $50

1. Opti-Free PureMoist Disinfecting Solution 10 fl oz, (Pack of 2)

If you wear contacts, you can never have enough contact lens solution on-hand. Be ready for anything with this handy, two-pack deal.

2. Tylenol Extra Strength Caplets, Pain Reliever and Fever Reducer

This is a great option to have in your medicine cabinet to handle everyday aches and pains, headaches, and even as a fever reducer in time for cold and flu season.

3. Caring Mill® Travel First Aid Kit, 35 pcs

This first aid kit from our private label, Caring Mill®, has everything you need to handle emergencies at home or on the go. Its compact size is perfect for traveling and can stow easily in your car or bag. As a Caring Mill® product, a portion of the proceeds of the sale of these products will support Children's Health Fund, a national nonprofit committed to providing healthcare to underserved youth throughout the U.S.

Under $100

1. Omron Electrotherapy Max Power Relief Device

This is one of our most popular TENS (transcutaneous electrical nerve stimulation) therapy kits that is designed with specific pain relief modes for the lower back, shoulder, joints, and more to provide targeted, drug-free pain relief from acute and chronic pain issues.

2. Navage Nasal Irrigation Starter Kit

This is another one of our cold and flu season favorites. This kit has everything you need to get started with saline nasal irrigation to help clear your sinuses and nasal passages naturally whether due to allergies, common colds and flus, or environmental pollutants.

3. KT Tape Recovery Cold Therapy Roller

For the fitness enthusiasts at FSAstore.com, this is one of their favorite ways to fight off workout soreness or bounce back quickly from an injury. This cold therapy roller is designed for versatility to work any part of your body, and it uses a small metal insert that is placed in the freezer to provide targeted therapy to tired muscles and injured areas.

Under $250

1. AliveCor KardiaMobile Personal EKG

The KardiaMobile is the FDA-cleared personal EKG (electrocardiogram) that provides a medical-grade EKG anytime, anywhere. In just 30 seconds, it can detect atrial fibrillation, Bradycardia, tachycardia, or normal heart rhythm. It will even work with most smartphones and tablet devices through Android or iOS systems.

2. Posture Pump® Dual Disc Hydrator®

The Posture Pump® is a personal decompression device that relieves painful neck and upper back stiffness, shapes and restores proper neck curvature, decompresses and hydrates compressed discs and decreases disc bulging. It is even an effective treatment for symptoms such as headaches and fatigue that can be associated with neck and back pain issues.3

3. Ultimate Foot Circulator with Remote

This has been one of our most popular products on FSAstore.com for more than 5 years and one our customers know and trust. The Ultimate Foot Circulator is an advanced muscle stimulator for home, at work or on the go that soothes stiff muscle by promoting optimal circulation by sending pulses directly into the muscle tissue to alleviate pain and soreness.

Over $250

1. Medcline Shoulder Relief System

Do you experience shoulder pain while trying to drift off to sleep each night? The Medcline Shoulder Relief System was designed to alter one's sleeping position to allow for comfortable left or right side sleeping by creating a neutral arm position while sleeping. Medcline also sells pillows designed to treat nighttime acid reflux as well.

2. Adventure Medical Pro Series Guide First Aid Kit

Need a first aid kit that has everything you'll ever need to handle an emergency and is rugged enough to handle the rigors of an outdoor environment? Look no further than Adventure Medical Kits which are designed from the ground up to help you respond confidently at the campsite or on the trail.

3. Bundles

Last but not least, if you have extra FSA funds to spend and have a lot of household medical needs, try our FSA Bundles! It's the quickest way to tackle immediate medical needs from pain relief to cold & allergy to sun care, so you can get the eligible products you need fast.


Thanks for visiting the FSA Learning Center! To stay on top of all FSA news that can affect your health and financial wellness, be sure to follow us on Facebook and Twitter.
Accounts

How to budget and plan around your FSA rollover

While many people know about the "use-it-or-lose-it" rule when it comes to a flexible spending account (FSA), increasing amounts of employers are instituting a safeguard to help their employees budget each plan year: the FSA rollover. According to the 2019 Employee Benefits Report from SHRM, 43 percent of U.S. employers offer this type of plan-year extension within their FSA programs.

So what is it and where can you sign up? Well it's a little more complicated than that, and thanks to a number of FSA improvements made on the legislative level in 2020, the FSA rollover is about to become a lot more relevant for millions of American families. Let's dive in to explain how this handy account provision works and how you can budget around it to maximize the potential of your FSA dollars.

What is the FSA rollover?

Also known as the "FSA carryover," this provision was introduced in 2014 by the Internal Revenue Service (IRS) to give FSA users additional flexibility in managing their funds with plan-year forfeiture deadlines. When setting up an FSA plan, employers can choose to implement either the FSA rollover or an FSA Grace Period (which gives FSA users 2.5 months after their plan year ends to spend their remaining funds). . Employers are not obligated to offer either feature, but if they do they cannot offer both features under the same plan. So whether you are starting a new job, or have been with yours for quite some time, be sure to ask your HR department to find out if these types of deadline extensions are in place with your plan.

Now here's the big change to keep in mind: when the FSA rollover was created back in 2014, the IRS would allow up to $500 to be rolled over into the next year's plan allocation. But in a big change for 2020, the IRS announced earlier this year that it would be increasing the threshold for the rollover to $550 for any plan year that began on or after January 1, 2020. That may not seem like a lot, but it's a new degree of flexibility that account holders can take advantage of whether they are worried about forfeiting their last few dollars or budgeting for a big-ticket medical service down the road.

Now that we know what the FSA rollover is, let's explore how you can best take advantage of it with these tips:

1. FSA rollovers don't count against your yearly contribution limit

This is probably the biggest piece of information to keep in mind when you're planning your budget around your FSA rollover. So looking ahead to 2021, the FSA contribution limit is $2,750. If your employer offers the FSA rollover, you can add $550 of your 2020 funds to your 2021 contribution, which would give you $3,300 to spend in 2021. And remember, your FSA contribution is available in full from the beginning of your plan year, so if you're planning on covering the cost of a bigger medical procedure like LASIK, you'll have your full contribution to work with as you make your decision.

2. Rollovers make it easier to plan for unexpected expenses

One tip that we always recommend to FSA users, whether they have the FSA rollover or not, is to give yourself enough of a cushion in your yearly contribution to handle sudden medical emergencies and illnesses that may come up. After all, if for some reason you have to visit a specialist or have medical tests done, being able to cover part or all of that extra expense should be factored into your yearly contribution. Of course, if you stay happy and healthy all year long, that could leave you with extra money to spend at your plan year deadlines.

FSA rollovers provide a measure of relief for FSA users when preparing for the worst - as long as they spend their FSA dollars down to below the $550 threshold, they can ensure that they won't forfeit funds at the end of their plan years and have a reserve to cover unexpected medical expenses if they happen.

3. FSA rollovers and HSA compatibility

Finally, if you're interested in making the switch to an HSA in the near future and you're currently enrolled in an FSA with a rollover, there is an important piece of information to keep in mind. According to WageWorks:

"If your employer offers a Healthcare FSA with Carryover, you should elect an HSA-compatible FSA for the new plan year so you can carry over up to $550 and contribute to an HSA to maximize your savings. If you don't enroll in an HSA-compatible FSA, you forfeit the remaining balance in your Healthcare FSA."

In other words, if you're planning on switching to an HSA in the future, you can't be enrolled in a general medical FSA and an HSA at the same time. You'd have to switch to a limited purpose FSA to rollover that money into in order to contribute to an HSA. Because this money bridges multiple plan years, it's an important factor in determining your eligibility for other types of tax-advantaged healthcare accounts like an HSA. So factor this into your long-term benefits planning if you think an account switch may be on the horizon.

If you have an FSA rollover, be sure to give your employer a big "thank you!" You have a lot more freedom to take advantage of your FSA funds to reduce your tax burden, treat medical conditions as they arise and help support your long-term health for the future.


Thanks for visiting the FSA Learning Center! To stay on top of all FSA news that can affect your health and financial wellness, be sure to follow us on Facebook and Twitter.
Eligibility

Got an FSA surplus? Treat yourself with these health and wellness favorites

While many FSA users can now enjoy deadline extensions like the $550 rollover or 2.5 month grace period (if your employer opts in), for many other flexible spending account (FSA) users, the 12/31 deadline is their last chance to spend their remaining FSA dollars.

For over a decade, we at FSAstore.com have been helping FSA users find the ideal ways to spend their remaining funds to manage medical conditions and everyday health issues, or plan ahead for whatever life throws their way. As this year comes to a close, FSA users will need some ideas to responsibly spend down their remaining flex dollars before their plan year ends.

So what better way to start than with the hottest FSA eligible products of 2020? As you start your 12/31 FSA deadline shopping spree, start with 10 products that made a massive difference in the health and wellness of our customers this year.

1. MyLab Box At-Home COVID-19 Detection Test

While COVID-19 testing is covered by most insurance plans, your FSA also covers at-home tests if you believe you have contracted the virus. The MyLab Box At-Home COVID-19 Detection Test uses saliva sampling for a quick, non-invasive testing method and a prepaid shipping box that will send your results out to the lab for results in as little as 24 hours. And if your test comes back positive, you can plan next steps with a free physician consultation.

2. Sejoy Infrared Forehead Thermometer

In light of the COVID-19 health crisis, many American families chose to upgrade their at-home health monitoring by upgrading their thermometers. Far and away the biggest seller in this category was the Seejoy Thermometer, which uses infrared technology to deliver quick, touchless readings in 3 seconds, as well as memory storage to capture the past 10 readings.

3. Welly Bandages

Replenishing first aid supplies is a smart tactic for FSA deadline shoppers, but if your home is running low on bandages, shop Welly first! Put safety first and fun second with their premium bandages in a variety of fun and engaging colors and styles to help turn boo-boos into badges of bravery for your little ones.

4. Supergoop! Unseen Sunscreen

Sick of sunscreen that leaves blotchy marks on your skin? Go with a weightless, scentless sun protection that goes on clear with Supergoop! Unseen Sunscreen. With broad spectrum protection and active ingredients that even protect against the blue light that's emitted from smartphones and other screens - it's the full spectrum approach you're looking for.

5. Caring Mill Pulse Oximeter

Alongside thermometers, oximeters were among the most popular hi-tech health devices of 2020. These devices clip onto your finger and measure the oxygen levels in your blood to help identify a key vital sign that could be the sign of an underlying health condition. Best of all, you can now purchase an oximeter from our private label line of healthcare products, Caring Mill. Each sale of a Caring Mill product will support the nonprofit Children's Health Fund, which is committed to providing healthcare to underserved youth populations throughout the U.S.

6. Tylenol Extra Strength Caplets

An OTC pain reliever may not seem too exciting, but it's actually a pivotal part of a larger story. Over-the-counter medicines became fully eligible in 2020 thanks to the passage of the CARES Act, so everything from pain relievers to allergy medicine to acne treatments is now covered by FSAs without requiring a prescription. We recommend Tylenol as a welcoming addition to your medicine cabinet to tackle aches and pains and even as a fever reducer.

7. Bug Bite Thing

Bug bites are no one's idea of a good time, so if you'll be heading out for a trek into the backcountry in the future, make sure you have insect bite treatments at the ready! The Bug Bite Thing has been extremely popular with our customers for its drug-free approach to itch and pain relief from insect bites so you can start the healing process.

8. Gold Bond Ultimate Skin Healing Lotion

With over-the-counter medicines now being fully FSA eligible, products that tackle skin conditions are also available under new regulations. One of the runaway successes of 2020 was Gold Bond Ultimate Skin Healing Lotion, which has been one of our top sellers all year long. From dry skin conditions to psoriasis to eczema, this lotion is a smart buy that can provide soothing relief.

9. Rael Heating Patch

In addition to OTC medicines, feminine care products like tampons, pads, period underwear, menstrual cups, and more are now FSA eligible! One of our top sellers has been the Rael Heating Patch, which uses natural, herbal therapy in an instant patch that warms up as soon as it's applied to promote increased blood flow and help your muscles relax to alleviate pain.

10. dpl IIa Professional Acne Treatment Light Therapy

Finally, as over-the-counter acne treatments have gained steam among our customers, light therapy continues to be a popular drug-free treatment method for acne with FSA users. The dpl IIa Professional Acne Treatment Light Therapy provides medical-grade infrared (IR) therapy with the largest possible treatment area of any light therapy product we offer. Utilizing powerful IR lights, this device will eliminate bacteria at the skin level to reduce breakouts, while enhancing skin tone and natural collagen and elastin.

There's thousands of ways to spend down for the 12/31 deadline, so make sure you start early to avoid forfeiting your hard-earned healthcare dollars!

Thanks for visiting the FSA Learning Center! To stay on top of all FSA news that can affect your health and financial wellness, be sure to follow us on Facebook and Twitter.
Eligibility

FSAstore.com’s Favorite Staff Picks for the 2020 Grace Period Deadline

For more than a third of the flexible spending account (FSA) user population, March 15 is a pivotal deadline when they have to spend the last of their 2019 funds before they're forfeited to the "use-it-or-lose-it" rule.

Need some help getting your wellness shopping trip started? Let the FSAstore.com staff help. We've compiled our staff's favorite newly eligible and top sellers so you can get exactly what you need to spend your remaining funds and get what your family needs to stay healthy year-round.

1. MDSolarSciences Hydrating Lip Balm SPF 30

"This is my favorite sun-safe lip balm that goes with everything. It has broad spectrum protection and helps prevent chapped lips," - Pauline F.

2. Bug Bite Thing

"This is one of our office favorites. It uses a suction tool to remove insect saliva and venom to quickly get rid of any itching or burning after a bite," - Kevin O.

3. KT Tape Recovery Cold Therapy Roller

"If I have a sports injury or just some regular workout soreness, this is a great option to have in my freezer to fight off pain and inflammation," - Ethan W.

4. Kanjo Acupressure Zip-Apart Mat

"I'm a big fan of Kanjo products, and this zip-apart mat helps me set up and break down the mat quickly and stow it in a suitcase or bag when traveling. It's a great way to treat common pain issues that can affect your neck and back," - Brendon A.

5. Attitude Living Baby & Kids Mineral Face Stick SPF 30 Fragrance-free

"I love this face stick for my little ones because it's plant-based, reef-safe and certified sustainable while offering broad spectrum protection against UVA/UVB rays," - Nancy H.

6. Recoup Cryosleeve Cold Compression Sleeve

"When I pull a muscle or tweak something at the gym, this cold compression sleeve is a lifesaver. It conforms to the area to ease pain and speed up the recovery process," - Bill S.

7. Sven Can See Antifog Gel

"If you wear contacts or eyeglasses, an FSA is a no-brainer to cover vision corrective aides and everything else that goes with them. I'm a big fan of Sven Antifog gel that will keep my lenses clear for 24 hours and comes in a pen-sized spray bottle that can go with you anywhere," - Zach W.

8. Elvie Double Electric Breast Pump

"After using a regular breast pump after the birth of my first child, I'm absolutely wowed by the Elvie. It can be worn in a standard nursing bra, and I can get stuff done while still being able to pump. It's one of the coolest mom innovations out there today," - Vanessa S.

9. Caring Mill Travel Heating Pad

"You'd be amazed how many ways you can use a heating pad, especially when it comes to treating abdominal cramps and discomfort. This Caring Mill design is perfect for use at home and can fit easily in a travel bag, and each sale benefits our charitable partner, Children's Health Fund! It's a win-win," - Jackie D.

March 15 will be here before you know it, so make sure you shop at FSAstore.com for all of your deadline spending needs:

  • Shop worry-free until midnight PST on March 15
  • 24/7 access to FSA experts, call or chat
  • 100% eligible products, guaranteed
Accounts

FSA Reimbursement: Filing claims, rules and deadlines

Paperwork. It's not something most people look forward to. Can't miss that it has the word "work" right in the name. But it can be a lot more interesting (and literally rewarding) if that paperwork leads to getting some of your hard-earned money back from taxes and in your pocket where it belongs.

You know, kind of like what happens with your flexible spending account (FSA). You see, even though FSA cards have made it easy to buy eligible health care products without paying tax, you've probably bought some things in the last year that qualify for FSA reimbursement. After all, there are SO many everyday health products and services like chiropractic appointments, allergy meds and more that you might have bought not knowing they were FSA-eligible.

(In other words, your FSA might "owe you one." We all like when that happens.)

But to get this money, you need to make sure your paperwork is in order, and your receipts match your claims. It sounds complicated, but it really isn't, as long as you know what you're doing. And that's where this guide to FSA claims and reimbursement comes in.

Over the next few sections, you'll get an everyday person's view on how to handle the organizing and filing of your FSA claims, so the only thing you need to do is sit back and enjoy your tax-free savings. Let's get started…

Gather those receipts!

You won't get far if you don't have receipts for the FSA claims you want to make. So whether you're tracking with a spreadsheet or a shoe box, take a few minutes to track down all the items and/or services you want to claim for reimbursement.

Remember, to be accepted for a claim, these need to be itemized receipts. That means they should have the following information:

  • Patient Name: The name of the person who received the service or item. (Keep an eye on retail store receipts, which might not have this info.
  • Provider Name: The provider that delivered the service or where the item was purchased.
  • Date of Service: The date on which services were provided or the item was purchased.
  • Type of Service: A detailed description of the service provided or item purchased.
  • Cost: The amount you paid for the service or product and/or the portion that is not reimbursed through your insurance carrier. Note that if there is a service that was processed through insurance, you'll be looking for your Explanation of Benefits (EOB) from your health care provider for this information.

Know the Explanation of Benefits (EOB) form

We know, we know… more forms. But this is an easy one. Anything processed through your insurance will require an EOB to verify the need, service type, etc. to your FSA administrator. Basically, the form gives you a chance to state your case, and offer up any details needed to prove eligibility. It's not difficult, and it doesn't take much time.

What about itemized receipts?

Even though you might know what a particular receipt is for, it doesn't mean your FSA administrator will have the same understanding. The more info on the receipt, the clearer your request will be, and the easier it will be to get reimbursed. This is a good rule of thumb for any FSA owner.

If your administrator comes back and requests more documentation, don't worry -- you'll probably have a chance to resubmit. Whether that means finding a more-detailed receipt in a shoebox, or going back to the pharmacy to see if they can pull up a transaction record, there should be a better source of info out there.

Alright, let's file those FSA claims

Before we dive in, let's state one thing -- the more frequently you submit FSA claims, the easier it is to stay on top of your reimbursements throughout the plan year. Not only will you get the money faster (obviously) but it also serves as a good way to stay aware of your available FSA funds.

Our suggestion? Make it a regular habit -- either on a weekly cadence, or even as soon as you make a purchase, so you're always right on top of your available balance (a hearty spreadsheet saved to the cloud so you can access it anytime would be a good start).

When it comes to starting the filing process, your FSA administrator will usually have a specific way they want to receive claims. Some FSA administrators let you submit claims online, while others offer a form to complete. With most of the world moving these transactions online, there's a good chance you can submit this way for all expenses. But "most" doesn't mean "all" so be ready for some light paperwork if needed.

A quick look at the FSA claim form

Here's a brief breakdown of what you can expect from your own FSA administrator's claim forms:

First, you'll fill in your first and last name and employer name and you'll probably need to enter an account or personal ID number (this all depends on your administrator's account setup, of course).

Below that, you'll likely have to itemize each specific claim on its own line, detailing the following:

  • Name of provider
  • Service/purchase date
  • Type of service
  • Patient relationship (i.e., identifying if this for yourself or a qualified dependent)
  • Cost of purchase or service that's eligible under your FSA
  • Individual and total claim cost

Some things to remember. If you use your FSA to pay for a portion of a service that wasn't fully covered by an FSA, and an explanation of benefits wasn't provided, the administrator would likely need a detailed statement from the provider explaining the service before the claim would be approved. After all, the IRS (you know, the people handling your taxes) are very adamant that FSA expenses should only be for medical needs.

But that's really all there is to it. Just complete as much information as you have for each separate claim, making sure that all expenses are for yourself or qualified dependents, and that they fall within eligibility guidelines.

A quick refresher on dependents:

  • An eligible dependent is defined as a spouse, qualifying child or qualifying relative. And a qualifying child is defined as a dependent child up to age 26, or any age if permanently disabled and otherwise qualifying.
  • A qualifying relative is someone who resides with you for more than half of the year. Qualifying children and relatives must not provide more than half of his/her own support.
  • A letter of medical necessity is required for any expense listed as such on our Eligibility List (and potentially others if your FSA administrator requires it). Basically, even if you think you need it, it won't be eligible unless deemed medically necessary by a licensed physician.
  • Explanation of Benefits forms (EOBs) are recommended, in case your insurance covered a portion of the expense.

Finally, be sure that your receipts match the totals accurately, so there's no problems after you've sent the forms along. A little extra diligence now can save you a ton of hassle later. Which is really the theme of this whole guide.

Keep in mind, this is an overview -- your FSA administrator likely has a preferred way to file claims, so be sure to check with them before proceeding. But once it's done and submitted, sit back and relax - your FSA administrator can take it from here.

How will you get your FSA reimbursement?

Most FSA providers offer direct deposit for reimbursed funds, but others will issue paper checks. Typically (especially if you submitted online) these claims are processed quickly -- often within a few days of submission -- so you likely won't be without your money for very long.

Most FSA administrators have this process down to a science, and have made even the most-complicated FSA claims submissions an easy process, thanks to platforms, apps, user-friendly websites and clear language about eligibility guidelines. In other words, they empower you, the user, to maximize these accounts with as little effort as possible, so you can make the most of these fantastic benefits.

What if my FSA claim is denied?

We're glad you asked. It's never fun to deal with more paperwork, but sometimes a lack of clarity around an expense can lead to your claim being denied. Still, you shouldn't panic or give up -- sometimes there's a simple fix that can allow you to refile the claim and get reimbursed. It doesn't mean you've done anything wrong and there's a good chance it's not even your fault.

There are a lot of reasons your FSA claim might be denied and most have an easy fix. Here are just a few of the most common causes.

Less remaining funds than expected

Sometimes it's hard to keep track of these expenses, and that can affect your FSA balance. If your claim is denied, it might be because you had insufficient funds in your account or that the price of the item you tried to purchase is higher than your available balance. Be sure to regularly monitor your available FSA balance whenever making a purchase, so you don't overextend your benefit.

Items aren't FSA eligible

While the IRS determines which items are FSA-eligible, employers can set their own eligibility rules as long as they are within IRS guidelines. In other words, it's important to check in with your FSA administrator and confirm that the item you want to buy is eligible for tax-free spending.

If your FSA card was declined but you decided to buy the item with a different card, then it's still a good idea to try and get reimbursed through your FSA. Of course, this is the perfect moment for a shameless plug -- if you bought the item through FSAstore.com and the item was allowed under your plan guidelines, we guarantee that the item is FSA-eligible (as long as you're using your plan properly), so be sure to save your receipt and submit for reimbursement.

Your receipts don't match

If you submitted the wrong form, contact your FSA provider right away and see if you can resubmit. It's as simple as that. However, if you make a purchase and don't have a matching receipt, you may be able to substitute one from another qualified transaction.

Let's say you purchased sunscreen and realized you don't have the receipt. Instead, you may be able to find another receipt for a qualified purchase to offset your original purchase. Maybe you buy additional sunscreen at a different store and submit that receipt, instead. As long as the prices match, you should be okay.

In some cases you may not even need to submit a receipt, although we always advise that you keep them just in case. For example, if you used your FSA debit card to make a payment and at a qualified merchant with the proper system in place, your expense may even be automatically approved without the need for documentation.

Are there any other FSA claims mistakes I need to watch for?

Mistakes are normal, and they aren't the end of the world. But when you make a mistake with your FSA claims, you need to be able to fix them as soon as possible, so you're not caught paying for them later. In other words, you want to be sure that you're using your FSA correctly so that you're not required to pay your reimbursements back or stuck with money you can't realistically use.

Here are a few common errors that could lead to bigger issues, if you're not careful.

Double expensing

One common mistake is paying for an FSA-eligible expense with your FSA card, and then submitting the same expense for reimbursement. Most benefits administrators can catch these mistakes pretty quickly.

But if a claim does go through and you get reimbursed twice for the same expense, you'll have to pay it back to your administrator if (and let's be real -- when) they become aware of the issue.

Claiming through separate accounts

Let's say you and your spouse each have FSAs through your respective employers. If you pay for a copayment or FSA-eligible product and submit a claim for that expense under both accounts, this is another clear example of double dipping.

Get ahead of this -- keep your claims separate for each account to avoid problems down the line.

Wrapping up…

Paperwork might not be the most-exciting thing to discuss … well… ever. But when it comes to eligible items and services you might have purchased during your plan year, the paperwork can result in some big savings. After all, it's your money -- a little legwork can mean a lot more of it in your wallet, and less of it lost due to forfeiture or denied claims.

Using the tips here, some diligent record-keeping with receipts, and a conversation (or two) with your FSA administrator, filing FSA claims and receiving reimbursement can be an easy, effortless process for making the most of your tax-free funds.

Accounts

Asked and Answered: How should I handle my FSA when going through life and career changes?

A little-known fact: Your entire year's worth of allocated FSA funds is available to you on the first day of the plan year. So, even if you've only contributed a few paychecks' worth so far, if you need to use the funds for a larger qualified expense, you're able to do so -- you'll just "pay back" the account over the rest of the year through your already planned payroll deductions.

This is a great perk for those situations. But, life isn't a straight line, and sometimes things happen -- unexpected expenses, relocation, etc. -- that can get in the way of your planning and budgeting. If your life doesn't always stay on the straight and narrow, check out these tips to stay on target.

Consider lifestyle changes

If you're relocating to a larger, more-expensive city, you want to take into account a higher cost of living. For instance, let's say you're uprooting from Springfield, Missouri, to Brooklyn, NY. As the cost of living is nearly double in the Big Apple, you'd need to increase your salary two-fold to enjoy the same standard of living. Even if you're getting a bump in pay, you'll want to create a spending plan accordingly.

(Please note: If you switch jobs -- and health coverage -- your FSA stays with your employer. Any expenses you had prior to leaving are fine, but these funds aren't transferable, and don't "come with you" if you switch jobs.)

If you're expecting a lifestyle change like a move, you might want to use the funds in the FSA to help pay for out-of-pocket medical expenses. This way, more of your take-home pay can go toward your living expenses. Need to spend more on rent, bills, transportation and food? Then use the money in your FSA toward qualified medical supplies and other out-of-pocket health care costs.

Stay on top of eligibility

It's always good to know what's eligible -- and it changes pretty often (our "New Arrivals" section is a pretty good barometer for what's up). Just because something isn't considered preventive medicine last year doesn't mean it doesn't fall under preventative medicine this time around. By knowing exactly what's eligible, you can put the money that would otherwise be sitting in your FSA to good use.

Divvy up your funds

Figure out what your medical expenses might be for you and your family for the rest of the year. Then allocate the money in your FSA accordingly. How you want to divvy up the funds is based on your personal situation and different needs for each season. For instance, when will you need to buy supplies for medical conditions, or over-the-counter medication during flu season?

"End-load" your spending

If you're unsure of how much you'll need to spend on medical expenses throughout the year, figure out ways to spend whatever's remaining in your FSA in the last months. The max your employer can contribute is $2,700 within a plan year. So, since you'll have access to the full year's allocation at the beginning of the plan year, you'll want to figure out how much you can reasonably spend through each month.

Remember: if you don't use it, you'll lose it. If it's deemed necessary, get Lasik, pick up new prescription sunglasses, or be prepared with necessary health-related supplies and equipment. The beauty of online shopping is you can figure out what your grand total is before you check out. Whereas if you shop in a brick-and-mortar drugstore, you can only best guess how much you'll be spending. It'll keep you within budget, and prevent you from going over your limit.

If your life is prone to change, take full advantage of the fact that the FSA funds provided by your current employer are made available from the start of the year. When life throws you a curveball, knowing what's eligible, assessing any changes in your financial needs and living situation, and creating a spending plan will ensure you spend all the money before the end of the year.

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From FSA basics to the most specific account details, in our weekly Asked and Answered column, our team gets to the bottom of your most-pressing flex spending questions. It appears every Wednesday, exclusively on the FSAstore.com Learning Center. And for the latest info about your health and financial wellness, be sure to follow us on Facebook, Instagram and Twitter.

Living Well

Real Money: My dream FSA shopping list

The entire self-care industry seems to have been given a bad rap lately, with people encouraging us to spend outrageous money on things like gold face masks, weekly massages (that aren't medically necessary), or going on shopping sprees all in the effort to "treat yourself."

Alright, perhaps I'm being a bit pessimistic here, but self-care to me has always been a daily practice, in which I take care of my mental and physical health -- not a luxury "day out." It's an absolute necessity because without either of those things, I don't feel as ready to be there for work and my family.

However, if you're like me, you may feel a little bit of guilt spending time and money on yourself. One way that may help is to look at money you can set aside specifically for self-care.

Take your FSA for example. Even with the best of intentions, sometimes you'll have money sitting in the account that you need to use up or else it'll be lost forever. In this case, why not look for self-care products that are both medically necessary (i.e. helpful for your physical health) and give you an opportunity to use up your FSA funds?

Personally, I like to keep a wish list for such occasions. Here are just a few of the items I'd love to buy if I had FSA funds I really needed to use up.

Remote-powered foot circulator

I'm a sucker for tools that relax stiff muscles. With a young kid to take care of and standing on my feet most days when I'm attending conferences, my legs get sore real fast.

I'd love to get this remote-powered foot circulator so I can just turn it on, sit back and relax while eliminating my pain. The product claims to help increase blood circulation and reduces swollen feet too, which sounds awesome if I need to get up the next day and face another hectic work schedule

Full-on migraine relief

Loud noises and bright lights tend to give me headaches, and unfortunately my son's toys seem to be the noisiest and brightest when I'm the most stressed. I'd love to find a drug-free solution to headaches so I can lie back and just let go.

This looks pretty neat since you get a head and eye wrap and can be used hot or cold, which is lovely because it really depends on what kind of headache or migraine you have as to what you need.

Acupressure mat set (don't forget the pillow)

I'm a total sucker for anything purple and alternative medicine. My grandfather was actually a traditional Chinese doctor so when I saw this mat, it was totally up my alley. The idea is that you lay on this mat that uses acupressure points to relieve pain. I want it because I tend to have a lot of neck and shoulder pain.

Next-level lip balm

Nobody can blame a person for wanting to look nice, right? But more importantly, I want to look nice while getting the necessary sun protection I need.

SPF lip balm is something I love because it offers that level of protection -- something I definitely need since my family spends a ton of time outdoors. But it also looks pretty good, too! This tinted lip balm offers a few colors to choose from -- but I'm digging on the one called "Summer Crush" right now.

From the looks of it, it's also got SPF 30 and a bunch of non-toxic ingredients, so it's good for your health and the environment.

Here's my dream FSA wish list, at a glance...

AccuRelief Ultimate Foot Circulator

Prescription-strength relief by relaxing stiff muscles and increasing blood circulation

Battle Creek Migraine & Headache Deluxe Kit

Convenient cold and hot therapy with gentle, adjustable compression.

Kanjo Memory acuPressure Mat Set 

A simple yet effective at-home solution for neck and back pain.

Coola Liplux Products

All-in-one lip treatment that protects with broad-spectrum UVA/UVB protection.


Whether you budget week-to-week, or plan to use your FSA for bigger things, our weekly Real Money column will help you maximize your flex spending dollars. Look for it every Tuesday, exclusively on the FSAstore.com Learning Center. And for the latest info about your health and financial wellness, be sure to follow us on Facebook, Instagram and Twitter.

Basics

FSA Friday with Sean - 1/5/2018 - Key employee benefit trends for 2018

Now the 12/31 FSA deadline has passed, we have a bit of breathing room here at FSAstore.com before we ramp up for the next big deadline, the FSA Grace Period, coming on March 15! But, before we get to that, let's read about the employee benefit trends that may affect you in 2018.

Whether you're a manager or an entry-level employee, knowing what's out there in terms of employee benefits and health coverage can help you make more informed choices in the future and get the maximum bang for your buck. Here's what to look out for in 2018.

20 Companies with the Best Benefits - Nick Otto, Employee Benefit News

Looking for a new job in 2018? You may want to look at these companies first. Employee Benefit News used data from Glassdoor Economic Research to build a list of American companies that go above and beyond for their employees in terms of health/dental/vision insurance, vacation/paid time off, retirement planning, and maternity/paternity leave.

On-Trend: 9 Voluntary Benefit Trends for 2018 - Nick Park, BenefitsPro

Today, health coverage, PTO and retirement planning are common employee benefits. It's voluntary benefits options that have become key for attracting new talent. BenefitsPro compiled a list of the most popular trends to expect in 2018, including student loan assistance, identity theft protection, personal financial planning, and more.

The 15 Biggest HR Challenges of 2018 - Nick Otto, Employee Benefit News

On the other side of the benefits discussion are the concerns faced by HR professionals, who directly communicate changes and updates to workers. Many of these HR trends reflect today's evolving workplace, including placing an emphasis on diversity and inclusion, curbing workplace harassment, and other relevant issues.

Happy New Year from all of us at FSAstore.com/HSAstore.com! For the latest info about your health and financial wellness, be sure to follow our Learning Center, Facebook, Instagram and Twitter pages.