7 Ways to Spend Use-It-or-Lose-It FSA Dollars

Use-it-or-lose-it FSA dollars; Pharmacy

There are just a couple of weeks left before the year ends! If you still have money in your Flexible Spending Account (FSA), now is a good time to put the remaining balance to work for you so you don’t lose those funds. (If you have a $500 FSA carryover option in your plan, you’ll need to spend down your account to get below the $500 threshold). Here’s a list of creative ways to spend your use-it-or-lose-it FSA dollars before year end.

7 Creative Ways to Spend Use-it-or-Lose-it FSA Dollars

1. Acupuncture

This ancient Chinese medicinal practice can help with pain relief, including headaches, arthritis, and lower back pain. Other uses for acupuncture include smoking cessation, stroke relief, and hypertension, among others. Be sure to contact a licensed acupuncture professional if you decide to get this type of treatment.

2. Family planning

There are many over-the-counter family planning items (including contraceptives) and medical procedures that are eligible for purchase with your FSA. Condoms, foams, pregnancy test kits, and ovulation test kits, are some FSA-eligible items. Fertility treatments are also covered by an FSA.

3. Visit the dentist

Regular dental treatments and most non-cosmetic procedures are FSA eligible. You can pay for cleanings, fillings, sealants, crowns, braces, dentures, gum recession treatments, and many other dental procedures.

4. Do you see what I see?

If not, it’s probably a good time to get your eyes checked. You can pay for eye exams and prescription glasses and contacts with your FSA.

Here’s another important eyecare expense that you can cover with your FSA – prescription sunglasses. You can also buy reading glasses and contact lens solution with your benefit dollars.

5. Restock your medicine cabinet

First aid supplies, such as regular (non-medicated) bandages, hot and cold packs, heating pads, nasal sprays, and thermometers, are just a few of the supplies that are commonly found in medicine cabinets.

Stop by your local pharmacy or grocery store to replace and refill the items that you’ll need in a pinch.

6. Pain in the back?

Did the aforementioned heating pads and acupuncture not do the job? Go see a chiropractor and use your FSA money to pay for it.

7. Plan for vacation

Okay … you can’t use your FSA to book cruise tickets or pay for gas on a cross country road trip. However, you can buy sunscreen, lip balms, and motion sickness relief products, all of which are perfect to have handy while on vacation.

Don’t lose out on your benefit dollars! These are just a handful ideas for your use-it-or-lose-it FSA spending.

View a list of FSA eligible expenses. Learn more about FSA grace period, carryover, and run out.