How do I spend my last FSA money?

Asked by: Prof. Roy Koch  |  Last update: September 26, 2023
Score: 4.1/5 (39 votes)

Last-Minute Ideas for Spending your FSA Funds
  1. Review if your FSA has a carryover or grace period. ...
  2. Review your medicine cabinet. ...
  3. Schedule a dental cleaning, eye doctor appointment or physical. ...
  4. Schedule a chiropractor or acupuncture visit. ...
  5. Plan ahead for upcoming vacations. ...
  6. Check your baby supplies.

How do I spend my remaining FSA money?

How to use FSA money. Common purchases include everyday health care products like bandages, thermometers and glasses. Everything from medical expenses that aren't covered by a health plan (like deductibles and co-pays to dependent day care) to over-the-counter medication can also be eligible.

How do I spend my FSA at the end of the year?

Your FSA can pay for medical, vision or dental expenses such as:
  1. Flu shots.
  2. Prescription sunglasses.
  3. Acupuncture.
  4. Sunscreen (30 SPF or higher)
  5. Dental care.
  6. And much more! Visit the Eligible Expenses page for a searchable list of IRS-approved expenses that are covered by your FSA.

Can you use FSA for previous expenses?

Can I use my Health Care FSA to reimburse outstanding medical expenses from the prior year? No, expenses must be incurred during the current plan year. The only exception to this rule is orthodontics.

Can I cash out FSA funds?

Unfortunately, FSA cards cannot be used to withdraw FSA funds from an ATM. These cards can only be used on qualifying medical products and services.

Creative ways to use your Flexible Spending Account before the year-end deadline

35 related questions found

How do I access my FSA money?

Through your FSA provider, you can access your FSA balance, submit or monitor claims for reimbursement, check payments made from your account, and sort out any other information you may need. Many TPAs offer FSA information online.

Does FSA have a debit card?

The debit card lets you electronically access pretax contributions you set aside in your flexible spending accounts (FSAs). How does the debit card work?

Can I use FSA for massage?

Did you know? Massage Therapy is eligible for reimbursement through most FSA's and HSA's. Some do require a Letter of Medical Necessity from your doctor, but this means you can potentially be reimbursed from your insurance for your massage from us! You just need a note from your primary care physician.

Can I use my Flex card for groceries?

A major source of confusion around the Medicare Flex Cards is whether you can purchase food with them or not. In short, you can use the card to pay for groceries.

What happens if you use FSA for non medical?

Your FSA account can be used for eligible medical expenses only and you are solely liable for the use of the plan. If the Benefits Card is accidentally or intentionally utilized for ineligible expenses, you are responsible for reimbursing your account.

Does FSA cover toilet paper?

Toiletries are not eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA), limited-purpose flexible spending account (LPFSA) or a dependent care flexible spending account (DCFSA). What are toiletries?

Can I buy vitamins with FSA?

FSA and HSAs won't cover a vitamin supplement geared toward general health and wellness. A vitamin is eligible for coverage by an FSA or HSA only if that vitamin has been recommended by a medical professional for the treatment or prevention of a specific disease or condition.

Is Fitbit FSA eligible?

A fitness tracker device, such as a Fitbit, is only eligible for reimbursement with a Letter of Medical Necessity (LMN) with a flexible spending account (FSA), health savings account (HSA) or a health reimbursement arrangement (HRA).

Can I use my FSA for Botox?

Botox injections are not eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA) health reimbursement arrangement (HRA), dependent care flexible spending account (DCFSA) or a limited-purpose flexible spending account (LPFSA). What is Botox?

Is deodorant FSA eligible?

Deodorant reimbursement is not eligible with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA), limited-purpose flexible spending account (LPFSA) or a dependent care flexible spending account (DCFSA).

Does Amazon take FSA?

Amazon has stepped up its game and is now accepting FSA and HSA cards as a payment method for eligible products. So, you can say goodbye to those last-minute trips to the store for medical supplies when you can have them conveniently delivered to your doorstep.

Can I use flex spending in Walmart?

Wal-Mart Stores implements a technology solution to enable customers to use flexible spending account (FSA) debit cards. The internally developed Inventory Information Approval System (IIAS) works by identifying FSA eligible merchandise, which have a unique ID number, as items are scanned at checkout.

What kind of food can I buy with my Flex card?

No, you can't use your Flexible Spending Account (FSA) or Health Savings Account (HSA) for straight food purchases like meat, produce and dairy. But you can use them for some nutrition-related products and services. To review, tax-advantaged accounts have regulatory restrictions on eligible products and services.

What is the $500 Flex card?

The Medicare flex card is a benefit offered by some private insurance companies that provide Medicare Advantage plans. This card comes preloaded with a set amount of money that you can use to pay for healthcare costs. A few health plans may allow you to buy approved groceries and pay for utilities with your flex card.

Can I use HSA for a gym membership?

General fitness expenses are not eligible but if your doctor or nurse specifically gives you an exercise regimen to carry out, the costs of the gym can be taken care of as part of your plan. For example, a physician might prescribe weight training or aerobic activity to lower blood pressure.

Can you use FSA to pay for chiropractor?

Chiropractic is a Qualified FSA Expense

Chiropractic fees for yourself, your spouse, or dependents could qualify as an FSA expense if it is medically necessary. Chiropractic is covered by a 'standard' FSA and not by a limited-purpose FSA (a limited purpose FSA can only be used for vision and dental expenses).

Can you use FSA for Lasik?

Can you use an FSA for LASIK? Yes, you can use an FSA for LASIK and other laser vision correction procedures. The IRS places restrictions on what is covered by FSA funds. However, an FSA currently covers laser vision correction procedures including LASIK, SMILE, PRK, and other techniques.

How can I use my FSA card at ATM?

You can't withdraw money from an ATM

A significant difference between the FSA card and a standard debit card is that you can't grab cash from an ATM using your FSA funds. No — this is strictly for eligible health care expenses.

Does Target accept FSA cards?

Target stores

Third-party credit cards: Visa®, Mastercard®, Discover®/Novus®, American Express®, credit cards from foreign banks (JCB Japanese Credit Bureau), Diner's Club International, and FSA/HSA cards are redeemable for FSA/HSA eligible items.

Does Costco accept FSA debit cards?

Costco accepts FSA or HSA cards — but only if you check out at the Pharmacy or Optical counters. So, I've already spilled the beans that you can use your HSA and FSA cards at Costco, but here's the trick. You can't use them at the regular checkout line.