Flexible Spending Accounts (FSA) allow you to save pre-tax money in an account to use on medical related expenses throughout the year. Depending on your plan, this could cover anything from cold medicine, eyeglasses, first-aid items, and even Bunion Booties!
Unfortunately the kicker is that you have to use the money you have deposited into this account by December 31st each year or it expires, and you loose that money that you’ve put away. There are a few plan providers that allow an extra two and a half months to spend this money, expiring March 2018, so it’s important to know the details of your specific plan. Most employers can help you find out what applies to you.
Other items that many people are not aware that FSAs will cover; sunscreen, birth control (and condoms), lip balm, diabetic supplies and durable medical equipment such as mobility devices; walkers, canes, bath and home health care aids like handrails and shower chairs. Even if your insurance covers part of these expenses, the remainder can be submitted to your FSA provider and depending on their plan specifics.
It’s a great deal for almost anyone, even the healthy as we all find ourselves purchasing band-aids, first aid kits (or just the basics), Tylenol, and cold & flu remedies every year. And those of us with Bunions…stock up on Bunion Booties today! https://bunionbootie.com