Benefits Buzz

Running Out of Time? Don’t Delay: Use Your FSA!

Posted on December 4th, 2012

If you have a flexible spending account (FSA), the year-end FSA frenzy is here. FSA participants that may have contributed too much money may be in panic mode, but it does not have to be that way for you. Let’s take a look at some ways to use your FSA money.

Visit your:

  • Doctor to make sure to get all immunizations done.
  • Dentist/Orthodontist to get a check up on those pearly whites.
  • Optometrist to get an eye exam! Buy a new pair of eyeglasses, prescription sunglasses, contact lenses, or even stock up on contact lens solution.
  • Dermatologist to get prescriptions, such as acne treatments.

In fact, now is the time to schedule annual check ups with all of your health care providers. Even the expense of acupuncture/acupressure is covered. You set aside this money for health care expenses, so we want you to use it and get your full tax savings. Want to see some common eligible expenses? Click here.

Remember to check your current account balance and ask yourself the following question when contributing money for next year: Did you use all of the money in the FSA?

  • If yes, was it enough?
  • If no, what was the reason that you allocated the larger amount? Did something change i.e. your prescription drug costs?

Flexible Benefit Service Corporation (Flex) supports the elimination of the Use-it or Lose-it rule, but since this regulation is still in-force, we want you to know all of your options on how to use this benefit—so you can be a smart spender. Flex also works with drugstore.com to help guide employees toward FSA-eligible items. Click here to shop the FSA store. Just Flex It and Save!

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