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5 quick ways to spend your extra FSA money before it's too late

It's a use it-or-lose-it benefit, so spend your money now


If you’ve set aside money at the start of the year and put it into a Flexible Spending Account (FSA) for medical expenses, in most cases all the money will need to be spent by the end of the calendar year, by December 31, 11:59pm before it’s forfeited,
unless
your FSA provider offers a
which ends on
March 15, 2021
. If so, the ideas on this page are for you!

Because every program is slightly different, it’s important you check your FSA administrator for more details.

People typically use FSA money for co-pays and deductibles for medical services, like doctor and dentist appointments. But if time is running out and you want to quickly spend the rest of your money, the easiest way to use your FSA dollars to shop for some health- and wellness-related products. In my experience, trying to spend $400-500 can be quite challenging. Stockpiling boxes of bandaids or antacids just doesn’t seem sensible. So, in recent years, I’ve gone for the purchase of fewer, more pricey items that are more valuable.


5 last-minute FSA purchase ideas

☝️ The key is to find consumables you use often or higher-priced items you’d usually be more hesitant to buy. Remember to sort search results so the highest-priced items appear at the top so you can use up all your extra money more quickly—with as few purchases as possible.

Here are my top picks:

1. Contactless digital thermometer

thermometer.jpg


2. Pain relief or acupressure devices

Screen Shot 2021-01-01 at 22.49.59.png


3. Personal humidifier

Screen Shot 2021-01-01 at 22.55.34.png


4. Contact lenses, prescription glasses, or contact solutions

Screen Shot 2021-01-01 at 22.53.19.png


5. Baby, mom, and family planning expenses

digital-ovulation-test.jpg


More FSA shopping options:

If you want to track your purchases so you don’t exceed the amount you have left in your account, make a copy of this doc to use the FSA Shopping List & Purchase Tracker

Copy doc now




My FSA Shopping List

Start by entering the amount you have left to spend in US dollars:

1
$500.00
There are no rows in this table


Estimate balance remaining:
$401.01


Add new item

Description
Item price
Quantity
Total
1
Sejoy Infrared Forehead Thermometer,
$98.99
1
There are no rows in this table
$98.99
Sum



My FSA Purchase Tracker

Actual FSA balance remaining: $
$354.86


Add new item

Description
Total purchase price
Purchase Date
1
Sejoy Infrared Forehead Thermometer & Humidifier
$145.14
12/31/2020
There are no rows in this table
$145.14
Sum



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