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The year is almost over. Do you still have a balance in your Flexible Spending Account (FSA)? The funds can be used tax-free for eligible medical expenses—but only if you spend them within a certain timeframe. The deadline is often December 31st; check your plan. After the cutoff date, the money disappears faster than a Lego in a shag rug.
According to the FSA Store (fsastore.com), an online shop that sells only FSA-eligible items, most parents still have between $50 and $200 of FSA money to spend (or lose) before year’s end. But don’t panic: You don’t have to schedule a New Year’s Eve dental cleaning to bring that balance to zero. We spoke with Kim Buckey, VP of client services at DirectPath, an employee engagement, health care transparency, and compliance firm for Fortune 1000 employers, to get some smart suggestions of FSA-eligible items. Of course, plans can vary, so ask yours. But by and large, the stuff on this list generally gets the green light:
For more suggestions, visit fsastore.com and browse around. As always, check with your plan’s specific guidelines for eligible purchases.
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Deborah Skolnik, a graduate of Cornell University, lives in Westchester with her husband and two daughters, and enjoys writing, cooking, and gardening.
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