As the year winds down, it’s time to check your Flexible Spending Account (FSA) balance—and make sure you’re not leaving money on the table.
FSAs let you set aside pre-tax dollars for eligible health expenses like copays, prescriptions, dental care, and more. But unlike Health Savings Accounts (HSAs), most FSAs follow a “use-it-or-lose-it” rule: any unused funds may expire at the end of the plan year.
What You Can Do Before December 31:
• Book appointments: Schedule checkups, dental cleanings, eye exams, or therapy sessions.
• Stock up: Buy eligible items like contact lenses, first-aid supplies, sunscreen, or over-the-counter meds.
• Submit claims: Don’t forget to file reimbursements for expenses you’ve already paid.
Quick Tip:
Some employers offer a grace period or allow limited rollover (up to $640 in 2025). Check your plan details so you know your deadline.
What About HSAs?
HSAs are different—they’re tied to high-deductible health plans and offer triple tax advantages. Best of all, unused funds roll over year to year, making them a powerful long-term savings tool.
