The holiday season is in full swing— and that means we’re nearing the end of 2019. It also likely means, for those with an employer-sponsored health plan that renews at the beginning of the year, it’s time to start thinking about your medical flexible spending account (FSA).

A flexible spending account (FSA) is a personal expense account that lets you set aside a portion of your salary, pre-tax, and use that money to pay for medical costs not paid for by your health plan. However, unlike a health savings account (HSA), the funds within your FSA need to be spent before the end of the year.*

What you can spend your FSA dollars on?

Your FSA can pay for medical, vision or dental expenses including:

• Flu shots
• Prescription sunglasses
• Acupuncture
• Sunscreen (30 SPF or higher)
• Dental care
• and much more!

Need more ideas? Visit the Eligible Expenses page for a searchable list of IRS-approved expenses that are covered by your FSA.

Who can you spend your FSA dollars on?

An FSA is unique, as you can use FSA funds on personal medical expenses and any of your dependents’ medical expenses. For example, if your 23-year-old daughter is home from college, you could buy her flu shot with your FSA funds. Remember, the dependent does not need to be covered by your health plan.

Need a refresher on FSAs and how they work? Visit the Introduction to FSAs article on the Further Learning Center or watch this 2-minute introduction video that details what an is FSA and how it works.

*Be sure to check with your employer to understand when your medical FSA funds are set to forfeit. Some employers may allow up to $500 of your FSA funds to roll over to the next year.