As 2020 draws to a close the holiday rush will quickly turn into a scramble of flexible spending account (FSA), users who have a December 31 deadline. FSAs are tax-advantaged accounts that your employer sponsors and can be used to pay for eligible healthcare expenses. Your employer will forfeit any money that is left after the end of each plan year or any extension. Many American families have hundreds or even thousands of dollars remaining this year.
FSAstore.com believes healthcare dollars should be easy to use and that funds should not be forfeited. This is especially true since FSA funds can be used to manage medical conditions or support your daily health and well being.
FSAstore.com is preparing a comprehensive list of resources with less than two more weeks to December 31st Deadline Spending GuideThese 10 ideas will inspire you to shop, and also help you save money.
1. Diagnostic Products. Monitor your health using at-home COVID test kitsMonitors of blood pressure thermometers, pulse-oximeters and other devices.
2. Over-the-Counter Medicines. You can buy everyday over-the counter medications like pain relievers, antihistamines, and acne treatments.
3. Drug-Free Pain Relief You are looking for pain relief without drugs? You can use your FSA to purchase products such as TENS machines, acupressure mats and foot rollers.
4. First aid. You can either stock up on first aid supplies or purchase a ready-made kit. It’s great for home, car, boat and all other places.
5. Cold & Allergy. Allergy season can occur at any season. Allergy sufferers have the option to purchase steam inhalers, saline nasal wipes, and Neti pots, as well as over-the-counter antihistamines and decongestants.
6. Baby & Mom. Your FSA can be used to purchase breastfeeding pumps and supplies as well as baby monitors, nasal sprays, and baby sunscreen.
7. Skin & Personal Care. FSA members have more options than ever to take care of their skin. Maintain acne “maskne”Mask usage can be prevented by using eligible acne treatments and light therapy.
8. Feminine care. You can now use your FSA for the first time to purchase tampons and pads, period underwear, and menstrual cups.
9. Sun Care. While you might be less likely to travel, UV rays don’t seem to have diminished. You can protect your skin all year with broad-spectrum sunscreen for kids, adults, and even lips.
10. Eye Care: Contacts, Glasses, and Sunglasses Need help seeing clearly? Your FSA can be used to replace your contact lenses or purchase new prescription frames, reading glasses or prescription sunglasses. FSAs can also be used to cover products related to contact lenses such as lens cleaning wipes or eyeglass repair kit, contact lens cases and solutions.
The December 31 deadline is rapidly approaching but FSA owners are in a better place than ever to make the most of their tax-free funds for long-term care and medical treatment.
