Use it or Lose it: Flexible Spending Accounts
It is fairly common for people to have flexible spending accounts (FSA). Did you know that if you do not spend the money you have deposited into your FSA, you may lose it? This is your hard earned money and you deserve to benefit from it.
Most plans allow you to purchase over the counter health related supplies such as aspirin and bandages. Did you know you may be able to use your FSA towards the service of your medical equipment such as a cpap repair or oxygen concentrator repair? Whether you need a regularly scheduled annual Preventive Maintenance or an unscheduled repair, your FSA funds may be able to help pay for it. It may also pay for accessories such as oxygen cannula’s and concentrator filters.
If your FSA issued you a debit card with the Visa or Mastercard logo on it, you may be able to use that to pay for your service. If you don’t have a FSA debit card, you may be able to be reimbursed by submitting our receipt.
No matter what you decide to use your FSA funds on, just remember to do so before the end of the year.