So you’ve considered the benefits of a flexible spending account. But you’re not sure what you can use those funds on. Does this sound familiar? Because the FSA eligibility list is long and confusing. It's nearly impossible to know what's FSA eligible and what's not.
Admittedly, no matter how many times we read the eligibility list
, we’re always surprised by what we find.
But It’s nearly the end of the year. Because of that, you're probably thinking how you can spend the rest of your funds.
In order to really maximize the benefits of your FSA dollars, we put together a list of surprising eligible services and items. More importantly, we also included the most common things that are mistaken as eligible but are NOT. Don’t make the mistake of buying these items!
If you have time to book a service before the end of the year, here are the services you can use your FSA funds on. Some offices will not accept your FSA card, so take back up payment. Remember to grab a receipt to submit for reimbursement!
- AA Meetings - If you attend AA meetings, any charges incurred are FSA eligible!
- Co-Insurance and Co-Payments - Make sure you take your FSA card the next time you go to your doctor's office. Your co-pay is eligible!
- Travel Expenses for medical related travel - If you need to travel by bus, air, train, or car to see a physician and get hit with a big bill, keep all your receipts because all those costs are FSA eligible.
- Sales Tax on FSA eligible purchases - The whole point of an FSA is to make sure you're getting tax-advantaged savings. You shouldn't pay the sales tax with an FSA! Make sure you collect any receipts with sales tax and submit them to your administrator.
- Foreign Medical Services - If you get sick on vacation and need to see a doctor, your FSA has you covered.
- Childbirth - Childbirth is one of the biggest benefits of an FSA, as there are a lot of costs that aren't covered by your standard health insurance.
- Birthing Classes - This is in the same category as childbirth. If you want to take birthing classes to prepare you for your big day, take your FSA card!
In addition to the above services, there are many items you don't realize you can buy with your FSA. Instead of booking a service between now and New Years, try some of the below items!
Athletic Tape - A great gift for your friend, the climber.
Glucose and Ketone test strips - These are medically necessary for millions of people. But insurance may not cover enough supplies for many living with diabetes. Use your FSA to get the supplies you need.
Sharps Containers - If you need to safely dispose of sensitive materials, a sharps container is a great way to use up your FSA dollars.
Sunscreen - Almost every doctor will tell you that sunscreen is necessary for any amount of sun exposure, where ever you are. Stock up on the supplies to keep the whole family protected all year long.
Breast Pumps - New mothers will rejoice that breast pumps are eligible under an FSA.
TENS Unit - If you slouch over your desk all day and get achy shoulders or back, a TENS unit can help ease that pain. Plus, buy one with your FSA!
Avoid These, They're NOT Eligible
- Day Care
- Baby Bottles
- Dental Floss
- Cosmetic Surgery
- Toothbrush and Toothpaste
- Vet Fees
- Car Seats
- Sun Protective Clothing
If you've got money left in your FSA, there are only 10 days left in the year to spend it
. These above options are great ways to spend down the rest of your account! Remember, if you don't have a rollover option, you need to spend your account by the 31st! And don't wait until the last day, as it may not get approved by your administrator.