8 Ways to Use FSA Funds Before 2012

As you know, there are many things you can take with you into a New Year (like 5 extra holiday pounds!), but your FSA funds are not one of them. Any leftover FSA money at the end of the year is forfeited—so here are some creative ways to spend down your FSA.

1. Review a list of eligible expenses. FSA funds can be used for a variety of medical expenses.
2. Submit outstanding receipts. If you don’t use it, you lose it’so make sure to submit any outstanding receipts for prescriptions or office visits.
3. Schedule routine check-ups. Have you been avoiding your trip to the dentist? Squeeze it in before 2012 to use up your FSA funds.
4. Get a flu shot and be up-to-date on vaccinations for you and/or your dependents.
5. Invest in wellness. Start your New Year’s resolution early this year and use FSA funds for smoking cessation, weight loss counseling, and more. (May need to be accompanied by a doctor letter.)
6. Log your miles. Your gas and transportation fees to and from appointments are eligible for reimbursement, so dig out those receipts! In 2011, you get reimbursed 19 cents per mile if the trip was made from Jan 1-June 30, 2011 and 23.5 cents from July 1-December 31, 2011.
7. Purchase medical first aid kits for your home and car.
8. Ask your doctor for prescriptions for over-the-counter medications and you get to use your FSA funds.

Make sure to check your FSA plan specifics for all eligible expenses. If you are an AFG client, you can simply contact your dedicated Account Manager with questions or concerns.