At the end of each year, many people scramble to use their Healthcare Flexible Spending Accounts (FSA) before the balance disappears. There is a little-known and too infrequently used option for people to continue to have access to their FSA funds after the ball drops on the old year and ringing in the new. Some FSA plans have a rollover limit of $500 that can be rolled over into the next year by employers. If you have this option in your employee benefit package, funds that were rolled over must be used by March 15 of the new year, otherwise the remaking balance is absorbed by your employer.
In case you need some ideas for ways to use the last of your FSA, we’ve come up with a few ideas for you.
Obviously, you expect that this would be in here, right? Is it time for your annual check-up? Do you need more extensive work done? Does your child need an orthodontic consultation? These all great ways to use up your FSA balance before it disappears.
There are many eligible procedures that Dr. Rogers performs in his Spanish Fork dental practice that qualify for FSA payments. It is important to note that contrary to popular belief, FSAs do not always cover a procedure that is not covered by your medical, vision, or dental plan. One of the most common for these is the cosmetic practice of tooth whitening.
When did you last have your eyes examined? Exams, contact lenses, glasses, and corrective vision surgery are all eligible for FSA use. You can even use your FSA to pay for prescription sunglasses or blue light-blocking lenses.
Contraceptives, including condoms, are FSA eligible. Additional items that are FSA-eligible include first aid supplies, doctor-prescribed over the counter medicines, as well as splints, braces, etc. Orthotics are covered as well as just some gel insoles.
With a little creativity and planning, you can use your FSA account to its maximum potential. While so doing, please consider Dr. Rogers, the compassionate Spanish Fork dentist for any of your dental needs.