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Flexible Spending Accounts (FSAs) allow you to set aside pre-tax dollars for healthcare expenses. To maximize your benefits, it is important to use your FSA funds before the year ends. Here are some smart ways to do so.
Review Your FSA Balance
Check your current FSA balance and identify eligible expenses. Knowing your remaining funds helps you plan purchases effectively and avoid losing unused money at year-end.
Schedule Necessary Medical Appointments
If you have pending doctor visits, dental cleanings, or eye exams, schedule them before December 31. Many providers accept FSA payments, and completing these appointments ensures you utilize your funds.
Buy Eligible Healthcare Products
Purchase over-the-counter medications, first aid supplies, or health-related items that are FSA-eligible. Keep receipts for reimbursement or tax purposes.
Consider Preventive Care Items
Items such as sunscreen, ergonomic office supplies, or vitamins may be eligible. Investing in preventive care can save money in the long run and help you meet your health needs.
Plan for Next Year
Review your healthcare needs and FSA contribution limits for the upcoming year. Planning ahead ensures you maximize your benefits and avoid last-minute rushes.