If you’re lucky enough to have had minimal out-of-pocket healthcare expenses this year and have not used up your Health Care Flexible Spending Account (FSA) balance, following are a few ways you can use your money instead of losing it: (If you wait until the end of the calendar year, you may miss the opportunity exhaust your FSA funds.)
Take care of your teeth! If you haven’t seen your dentist in a while, go for an exam and have your teeth cleaned.
Take care of your eyes! If you already have eye glasses, use your Health Care FSA balance for prescription sunglasses.
Stop by the drugstore! Health Care FSAs currently cover over-the-counter (OTC) medications and other health related products – from aspirin to cough medicine to eye care supplies. Starting January 1, 2011 out-of-pocket expenses for most OTC items will not be eligible for FSA reimbursement unless you have a doctor’s prescription for the OTC item. Stock up now!
Check out the SMU Health Care Flexible Spending Account webpage for more information on how an FSA can work for you!