Time is running out if you have a healthcare flexible spending account. If you're reading this, chances are there are only a few days left to spend the money you've put aside in those pretax dollars.

Spend Your FSA Dollars Now

At some point you have to spend this money. For most folks the deadline is at the end of the year. Some companies will give you an extension until March 15th. So you have to make sure to check and see when your deadline is, because if you saved up that money and you haven't used it by the 31st, it's gone!

Forty million+ Americans use FSA's. However, there have been some changes you should know.

What Does an FSA cover?

• Eye exams and eyeglasses
• Dental work and cleaning
• Physical exams
• Hearing exams
• Acupuncture
• Chiropractic visits
• Prescriptions and co-pays
• Medical Equipment (canes, walkers)
• Eyeglass repair

What FSA's Do Not Cover

• Over the Counter Medications (allergy medication, ibuprofen, contact lens solution)
• Cosmetic procedures
• Insurance premiums

If you find your account has too much or too little money at the end of the year, make sure to adjust the amount  withdrawn from your paycheck. Another good way to see if you're putting away the right amount of money is to look at your receipts. It's not fun work, but, it's very worthwhile because this is all pretax money that you can put away. So, if you're in a general tax bracket, that's $33 for every $100 that you put away.......that's a lot! 

If you have kids or elderly parents that you're caring for, every time you take them to the doctor, an FSA will cover the costs. 

If you have money left over and you're not sure how to spend it, you can use it on our eyeglass frames. Once your purchase, you can send the receipt to your FSA for reimbursement. You can always contact us if you have questions on our products.

We are not tax or legal professionals. This article should not be considered as professional legal or tax advise. Please contact a tax or legal professional for your tax or legal matters.