How to spend all your FSA dollars as end of year approaches
HOUSTON – There are a lot of things covered with money you may not remember you have. If you have money left in a flexible savings account for 2017, you have until Dec. 31 or March to spend it, depending on your insurance plan.
The funds can be used for doctor visits, lab tests and hospital stays. If you don't anticipate all that, your FSA can be used for over-the-counter medicines like:
- allergy medications
- pain relievers
- nicotine medications
- first aid creams
- wart removal medication
- antibiotic ointments
- sleep aids
- motion sickness pills
Your FSA cannot be used for:
- toiletries (including toothpaste)
- cosmetics (including face cream and moisturizer)
Even if you can't see your doctor, call and ask for prescription medication that you need refilled, since you can pay for those with your FSA. Also, check the online flexible spending account store for the do's and don'ts when it comes to your FSA.
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