FSA Money: 4 Days to Use It or Lose It
By MP Dunleavey | Friday March 11, 2011
The grace period for spending down the 2010 funds in your flexible-spending account is up on March 15.
Remember, whether you allocated $200 or $2,000 to be saved in your FSA last year, those are use-it-or-lose-it funds.
Not every company provides a grace period. If yours does, you have until Tuesday to spend that pre-tax money. (Also, be sure check what your company’s deadline is for filing FSA expenses.)
The good news: Thanks to changes in healthcare legislation, you can use your FSA money for a much wider range of products and services.
And many retailers are eager to help you spend that money (and get reimbursed, of course). Depending on where you shop, ask about qualified expenses.
There’s even a new FSAstore online, that specializes in products that now qualify under flexible-spending account rules.
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