7 ways to get creative with your FSA money
Posted: January 02, 2020 | Word Count: 487
An employer-sponsored Flexible Spending Account (FSA) is a convenient option for saving on health care. You put pre-tax dollars into the account to spend throughout the year on health care related expenses. The downside? Most of your FSA funds expire at the end of the year.
If you have an FSA, you have a limited amount of time to spend the cash before potentially losing it.
Whether it’s the end of the year — or the end of your grace period — and you have extra dollars to spend or you’re planning ahead, here are some creative ways to spend your FSA money.
Stock up on skincare
Many skincare products like acne treatments, anti-aging treatments, toner, moisturizers — and even lip balm — are FSA-eligible. And don’t forget the sunscreen. Before you take a trip to the drugstore, make sure you’re utilizing your FSA dollars on your skincare needs. It’s an easy way to save money on items you use every day.
Better your health
It's easier than ever to better understand your health from home and on the go. LetsGetChecked offers a wide range of at-home laboratory tests that provide accurate health insights and save the time, cost and hassle of going to the doctor's office or lab. The tests cover men's health, women's health, general wellness, and sexual health. Once your results are ready, a member of the medical team will offer a one-to-one complementary consultation over the phone, before releasing your results to your online personalized dashboard. LetsGetChecked empowers you to monitor and manage your health now and in the future.
Relax and revive
Acupuncture has been known to help with chronic pain, arthritis and even mental health issues. And massage can be a powerful tool for wellness, soothing stress and anxiety. If you’ve always wanted to try acupuncture or massage, extra FSA money provides a great opportunity.
Get new glasses
Head to your optometrist to update your eye prescription. You can buy prescription glasses, contact lenses and solution with your FSA money. You can also buy reading glasses without a prescription.
Fill your first aid kit
If your first aid kit and medicine cabinet are looking a little empty, stock up on over-the-counter essentials. Pain relievers, headache medicine, antacids, heartburn medicines, bandages, ice packs, thermometers and so much more can be covered by your FSA account.
Invest in sleep
If you have trouble sleeping, your FSA account may cover more than you know. Prescription sleep aids are eligible, as well as sleep masks and other sleep-related products.
Take care of your teeth
Co-pays and fees associated with cleanings, X-rays, fillings and orthodontics may be covered by your FSA account, along with over-the-counter items like mouth guards and cleaning solutions for dentures or retainers. However, toothpaste and cosmetic dental procedures are not eligible.
Use your FSA the smart way. Follow these tips to save money and get the healthcare essentials you need.