Only a few weeks left to use FSA, here’s how an expert says to do it
Dec 4, 2023, 7:00 PM
Medicines, such as Sudafed are kept behind the counter at Jolley's Corner Pharmacy in Salt Lake City, Utah on May 25, 2006.There are still a few weeks left to use your healthcare Flexible Spending Account or FSA. (Ravell Call/Deseret News)
(Ravell Call/Deseret News)
SALT LAKE CITY — There are still a few weeks left to use your healthcare Flexible Spending Account or FSA.
Most folks believe their FSA will reset on Jan. 1. However, Shane Stewart of Deseret Mutual Benefit Administrators said most employers have a grace period.
“This year you can also carry over $610 into the new year and use that then,” Stewart said.
Stewart also said there are some good last-minute uses for those savings.
“Things like first-aid equipment, if you don’t have that in your home, you might want to use that,” he said. “There are some over-the-counter medications. If you don’t have those you can use those [savings]. I’ve seen people stock up on certain supplies that I need medically.”
In addition to this, Stewart said people use their FSA savings on things like feminine hygiene products, last-minute doctor visits or medical procedures.
Even with the grace period, it’s a smart idea to make sure all those products or services are covered by your employer’s plan.
