DENVER — Time is running out to spend the tax-free cash in your Flexible Spending Account, or FSA. But before you go out and grab typical medical supplies, there are several unconventional items that an FSA covers.
“Things such as deductibles, co-pays, braces, prescription eye glasses, just everyday expenses,’ said President of EdgeRock Wealth Management Kyle O’Dell.
“At times, you can use it for acupuncture, you can use it for even just hand sanitizer and sunscreen," O'Dell said.
Other eligible items include massages (if there is a medical benefit), prescription sunglasses, breast pumps, contraceptives, counseling, drug addiction treatment, LASIK eye surgery, and gas mileage for travel to and from healthcare facilities.
All eligible items and services are listed on fsafeds.com.
“Before you go spend a dollar, take two minutes to hop on that website to figure out what you can use this for,” O’Dell said.
The deadline to spend money in an FSA is Dec. 31. After that date, the money does not rollover for the next year.
O’Dell suggests keeping all receipts for items and services purchased.
