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eligible expenses for an FSA account
Old 11-14-2006, 11:23 AM   #1
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eligible expenses for an FSA account

I know a number of employers have their employees decide around this time of the year how much money they want to put in their flexible spending account for the coming year.

The downside with an FSA is that it is a use it or lose it account. You have to spend all the money each year or forfeit what is left. Employers can give a grace period after year end for up to two and a half months.

Anyway, to help decide what expenses can be reimbursed from these types of accounts, this is a nice comprehensive list: https://www.fsafeds.com/fsafeds/eligibleexpenses.asp

Also, general information on FSAs can be found in this IRS publication: http://www.irs.gov/publications/p969/ar02.html#d0e1635
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Re: eligible expenses for an FSA account
Old 11-14-2006, 11:30 AM   #2
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Re: eligible expenses for an FSA account

Quote:
Originally Posted by Martha
The downside with an FSA is that it is a use it or lose it account. You have to spend all the money each year or forfeit what is left. Employers can give a grace period after year end for up to two and a half months.
Nice links, good information.

Just a reminder for the less-initiated that constraints on medical savings accounts (with high-deductible health policies) are quite different from those on flexible accounts mentioned above.
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As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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Re: eligible expenses for an FSA account
Old 11-15-2006, 07:46 PM   #3
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Re: eligible expenses for an FSA account

FSA store on drugstore .com . Makes life easier


http://www.drugstore.com/templates/b...9875&trx=29604
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