Stay ahead and do your FSA mid-year check

We're past the halfway point of 2024, and for most of our flexible spending account (FSA) participants, that means there are only four months until the end of the plan year.

Don't let the last date of the plan year, Dec. 31, sneak up on you! Now is a good time to evaluate your remaining FSA funds and take steps to make sure you spend all of them or spend down to the rollover amount ($610.00).

Here are a few helpful tips: 

Load up on summer items 

• With nicer weather and longer days comes more time spent outdoors. Everyday summertime expenses such as sunscreen, medical cold packs and prescription sunglasses qualify as FSA-eligible expenses. See what other expenses qualify on this searchable eligible expense list.

• Appointment co-pays and eligible expenses incurred at a doctor's office for you or your dependents are great items on which to spend your FSA funds. That could come in handy if:
  • You have children. They may be required to undergo a back-to-school checkup or a physical to participate in sports or other after-school activities. Find out what appointments they need and schedule them today.
  • You postponed any eligible surgeries or procedures during the pandemic but plan to undergo them this year.

• If you're one of the 97% of Americans who own a cell phone, set up a reminder in your phone or other mobile device for a month or two before the plan year's end. That way, you can ensure you're notified when Dec. 31 is approaching and remind yourself to spend your remaining dollars or check your balance for the rollover amount.