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If you have an FSA, you may have until Mid-March to spend your funds!
If you have a flex spending account, you may have a grace period to use your FSA funds. Many FSA programs offer a grace period ending on March 15. Not every plan is the same though, so you should check with your benefits provider to confirm whether or not you have this deadline.
According to FSAstore.com – the only one-stop-shop exclusively stocked with FSA-eligible products – each year, consumers lose hundreds of millions of dollars because they do not use tax-free dollars available in their FSAs. While many FSA plans end on December 31, some plans have grace periods that extend coverage up to 2 ½ months. March 15 is a major upcoming FSA deadline.
If you have an FSA – it is not too late to check if you have the grace period and can still use your 2012 FSA funds by March 15. If you’re relatively new to FSAs, you might wonder what to spend your FSA on.
Related: Visit our posts on staying healthy
Flexible Spending Account Funds
Here are some of the ways you can use up your FSA funds before the March 15 Grace Period deadline:
- Consider FSA-eligible over-the-counter products that you could use throughout the year, ranging from baby care items to contact lens care to shoe inserts.
- Be heart-healthy and purchase blood pressure monitors or heart rate monitors.
- Prepare an emergency first aid kit stocked with bandages, Band-Aids, gauze, and more.
- Gear up for spring and summer with FSA-eligible sunscreen.
- Planning for or expecting a baby? Everything from breast pumps to prenatal vitamins is also FSA-eligible on our site.
If you or someone you know has a flexible spending account, check out FSAstore.com. You’ll find thousands of brand name FSA-eligible products, a database of FSA-eligible services, and much-needed information about various types of flexible spending accounts in the FSA Learning Center. The store accepts all FSA and major credit cards, offers 24/7 customer service, one-to-two-day turnaround for all orders, and free shipping on orders $50+. Best of all, submitting receipts for products purchased with an FSA card is unnecessary.