Eligibility

10 ways to spend your FSA dollars by March 15

For many FSA users, 2016 isn't over quite yet! The period between January 1 and March 15 is the FSA grace period (for FSA plans that ended on December 31, 2016), the last chance for millions of FSA holders to spend down the remainder of their 2016 funds before they are forfeited.

Companies have the option of choosing the 2.5 month grace period or the $500 rollover when setting up FSA plans for employees, so if your plan features the grace period, there is still time to spend down the remainder of your 2016 funds before the deadline! Whether you have $600 or $60 left in your account, FSAstore.com can help you spend down your remaining 2016 funds on the eligible products you and your family use the most. Here are a few ideas to keep in mind before March 15 arrives!

  1. Medical/Dental/Vision Care

First and foremost, your FSA is one of the easiest ways to save on medical spending, so whether you've been putting off a physical exam, a dental cleaning or even thinking about LASIK surgery, these are all qualifying medical expenses that can be covered with FSA funds. Before your 2016 plan year comes to a close, use your remaining funds to lay a healthy foundation for 2017!

  1. First Aid Kits

You may have a first aid kit at home, but what about your car, boat or workplace? Accidents happen when you least expect them, so be prepared for the worst wherever you're heading with FSA eligible first aid supplies.

Check Out: Adventure Medical First Aid Kit Comprehensive

  1. Mineral Sunscreen

The sun's rays are dangerous for your skin during any season, so if you'll be spending an extended amount of time outdoors in the coming months, make sure your skin is protected with mineral sunscreen! These products do not absorb into the skin, offer broad spectrum protection against UVA/UVB rays and are ready to protect from the sun as soon as they're applied.

Check Out: La Roche Posay Anthelios SPF 50 Face Mineral Tinted Sunscreen, 1.7 fl oz

  1. Sunscreen Lip Balm with SPF 15+

Don't let your lips suffer from a lack of sun protection year-round. Sun care lip balms that contain a sun protection factor of 15 or above are FSA eligible! Apply it before heading outdoors to safeguard your lips from the elements.

Check Out: Coppertone Sport Sunscreen Lip Balm SPF 50

  1. Bandages

Bandages are staples of the modern household that can handle cuts, scratches and bruises large and small. They can also run out fast over the course of the year, so this is the perfect opportunity to plan ahead.

Check Out: Band-Aid Flexible Fabric Adhesive Bandages 1 In, 100 ea

  1. Neck Supports

Orthopedic neck supports are considered FSA eligible expenses, so if you're traveling in the future or simply need some pain relief when you're lounging around the house, these neck pillows can make a huge difference!

Check Out: IMAK HappiNeck Orthopedic Neck Support

  1. Contact Lens Accessories

In addition to contact lenses being FSA eligible, products like lens solution, carrying cases and other accessories are eligible for reimbursement as well.

Check Out: Bausch and Lomb Biotrue Multi Purpose Solution, 10 oz (Pack of 2)

  1. Eyeglass Accessories

On the opposite end of the spectrum, eyeglass wearers have plenty of care considerations of their own when maintaining their eyewear. Cleaning clothes, eyeglass repair kits and other accessories are FSA eligible, so use your benefit to ensure they're in great shape year-round.

Check Out: Apex Eyeglass Repair Kit Model No : 71013 - 1 Ea

  1. Thermometer

Has your family's thermometer seen better days? These devices have evolved by leaps and bounds in recent years to make taking a temperature easier than ever. Oral, in-ear, forehead and other designs are all eligible with an FSA!

Check Out: Braun Forehead Thermometer

  1. Blood Pressure Monitor

If you or a loved one has a history of hypertension or a family history of heart disease, blood pressure monitoring is a smart choice for future health decisions. Smartphone-enabled blood pressure monitors make it easier than ever to track numbers and share them with healthcare professionals to better realize your long-term health goals.

Check Out: Qardio Arm Wireless Blood Pressure Monitor

Adventure Medical First Aid Kit Comprehensive

Find everything you need to care for a large group on an extended trip.


Eligibility

2017 FSA Grace Period Product Guide

While the 12/31 deadline is the most important date of the year for millions of FSA users, a huge segment of this population is enrolled in plans that feature a 2.5 month grace period. This option, which is chosen by employers, gives FSA users 2.5 months after the end of their plan year to spend down the remainder of their FSA funds and submit claims for reimbursement.

If you have the FSA grace period and your FSA ended 12/31/2016, the countdown to March 15, 2017 (your 2.5 month grace period deadline) has begun! To avoid forfeiting money to your FSA plan sponsor, we have compiled the FSA Grace Period Product Guide to help you find the eligible products your family needs to stay healthy throughout 2017. Whether you have $20 or $200 left to spend, we can help you put those remaining FSA dollars toward items that can enhance your health and wellness for the year.

Need to get away?

If you and your loved ones are looking to escape the winter blues or planning a trip in the spring, your FSA covers a surprising amount of travel items that you may need along the way. Travel in comfort and avoid unnecessary neck pain with an orthopedic neck pillow, and keep track of any medications you take with an FSA eligible pill organizer. And don't forget sun protection (SPF 15+, broad spectrum sun protection is FSA-eligible)! Pick up children's sunscreen for the little ones and keep your skin protected with mineral sunscreen.

Make a renewed commitment to fitness

Whether you're trying to craft the perfect beach body this summer or are heading back to the gym for health-related purposes, your FSA can cover the cost of a wide range of physical therapy and wellness products to help alleviate pain while you reach your goals. Cold packs are smart buys that can help you control workout related soreness and inflammation, kinesiology tape can promote the healing process of strained muscles, while braces & elastic supports can immobilize joints to prevent re-injury and help you stick to your exercise regimen.

Improve your vision correction methods

Whether you wear contact lenses, reading glasses or prescription glasses, all of these vision correction methods are covered by your FSA! Best of all, in addition to the devices you use to improve your vision, the accessories needed to take care of them are eligible as well! Eyeglass repair kits & cleaning cloths, contact lens solution, contact carrying cases and many more eye care products are eligible and can keep you seeing clearly year-round.

Pick up home health essentials

Is your home's first aid kit up to date with fresh bandages and wound dressings? Do you have a first aid kit for your car or boat? What about over-the-counter (OTC) pain relievers, acid controllers, allergy remedies or antihistamines? FSAstore.com can help you pick up the medicine cabinet essentials your family needs to stay healthy year-round. And with our hassle-free Prescription Process, we can help you quickly obtain prescriptions from your doctor for eligible OTC medicines to complete your purchases!

Bundle of joy on the way?

If your family will be growing in the coming year, your FSA can help you lay a strong foundation for parenthood with a wide range of qualifying products. Prenatal multivitamins are eligible without a prescription, as well as breastfeeding supplies, baby sunscreen and much more! FSAs can help you save on the huge amount of care items that an infant will need throughout the early stages of life, so you can be prepared for whatever parenthood has in store.

Basics

Does my FSA have a grace period or $500 rollover?

As an FSA user, you know just how important end of year spending is to maximizing the potential of your account. However, while the "use-it-or-lose-it" rule is still in effect and many account holders must spend their funds by the end of each plan year, there are 2 vital deadline extensions that all FSA users should be mindful of: the $500 rollover and the 2.5 month grace period.

What are the $500 rollover and 2.5 month grace period?

Historically, FSA users would forfeit any unused FSA funds at the end of each plan year thanks to the "use-it-or-lose-it" rule. While this rule is still in place, two important changes have emerged over the past decade to provide a measure of relief to FSA users: the $500 rollover and 2.5 month grace period. FSA plan sponsors can choose to offer ONE of the two rules when administering FSAs, but not both.

$500 Rollover

This FSA regulation gives account holders the ability to "roll over" up to $500 in to the next plan year's account to prevent a large portion of funds from being forfeited. The FSA plan sponsor can elect to allow less than $500 to be rolled over, but the same rollover limit must apply to all participants under the current FSA plan rules. The $500 rollover does not count toward the following year's maximum election amount ($2,750 for 2020), so account holders could feasibly roll over $500 of last year's funds on top of the full election amount of $2,750 for 2020, which would give them $3,250 available for reimbursement for healthcare expenses that year.

2.5 Month Grace Period

The other option is the 2.5 month grace period. This gives account holders the ability to spend down the remainder of the previous year's FSA funds before March 15 (for FSA plans ending December 31), after which any unspent funds would be forfeited back to one's employer. Unlike the FSA run-out, which can be offered in conjunction with a rollover or grace period and provides up to 3 months after plan year end to spend down remaining funds for expenses incurred during the prior plan year only, the grace period allows users to spend down remaining FSA dollars on new expenses incurred within the new plan year as well.

How do I know if I have the rollover or grace period?

Your end of year options can determine how you will spend your allocation over the course of the year, so it's vital that you know your FSA plan details before setting an election amount for the coming year. Aspiring FSA users should inquire about these regulations during their health benefits Open Enrollment to plan out the optimal healthcare spending for the coming year.

Last but not least, if you're an FSA user and you've never heard of the $500 rollover or grace period, speak with your benefits administrator immediately! FSA plan administrators, whose information can typically be found on the back of an FSA benefits card or by contacting your HR department, can let you know the exact details of your FSA. With March 15 just around the corner, FSA users all over the country could still have money left to spend, so don't let a cent of your money go to waste!

For everything else regarding your FSA, you can rely on FSAstore.com! Shop the web's largest selection of FSA eligible products, browse product/service regulations in our Eligibility List and plan your yearly spending with our handy FSA Calculator!