What is a Flexible Spending Account?
A Flexible Spending Account is a fund which allows you to pay for eligible medical expenses with pre-tax money.
Doctor office co-pays, bandages, contact lenses, contact lens solution, etc. are eligible expenses. Many employers
include the option of a Flexible Spending Account with their benefit package.
Use it or lose it!
Flexible Spending money must be used by a specific date set by your provider.* If the funds are not used by this specified date, all remaining money is lost.
- Here are some tips to make sure this doesnít happen to you:
- Talk to your company or provider about enrollment and expiration dates.
- Track your exact balance throughout the year.
- Donít wait until the last minute. Last minute purchases run the risk that they will not be eligible for reimbursement.