86 ways to use your FSA funds before it’s too late

Do you have a flexible spending account, also called a flexible spending arrangement (FSA), through your employer? If so, you know that they are a great way to help you spend less on health care. But they only save you money if you spend everything in the account before the deadline, which is usually the end of the calendar year.

For 2023, the IRS limit for annual FSA contributions is $3,050, a $200 increase over 2022 that reflects inflation. And, most years, that money is use it or lose it. Meaning, whatever you have contributed to your account this year, your time to spend ends at the end of the calendar year. Though, there are circumstances when you might have a little bit of wiggle room.

In typical years, there are two cases in which you can get extra time to spend your FSA money:

• The rollover option: In accounts where employees have the rollover option, you can move up to $570 from this year’s money to next year’s balance. In 2023, that amount rises to $610.
• The grace period option: If your employer has chosen the grace period option, you may have up to two and a half additional months to spend the entire balance of your account. Usually, the grace period ends on March 15 of the following year.

Usually, you are only allowed one of these options, and it has been chosen by your employer ahead of time. Check with your human resources department to find out which option you have for your account. 

In 2021-2022, the IRS made a special exception because the COVID-19 pandemic increased the likelihood that people had unused FSA funds—thanks to decreased availability of healthcare. Notice 2021-15 allows for increased discretion by employers for health FSAs in the following ways, but expires December 31, 2022:

• Provides flexibility for the carryover of unused amounts from the 2020 and 2021 plan years;
• Provides flexibility to extend the permissible period for incurring claims for plan years ending in 2020 and 2021;
• Provides flexibility to adopt a special rule regarding post-termination reimbursements from health FSAs;
• Provides flexibility for a special claims period and carryover rule for dependent care assistance programs when a dependent “ages out” during the COVID-19 public health emergency; and
• Allows certain mid-year election changes for health FSAs and dependent care assistance programs for plan years ending in 2021.

Again, it’s up to your employer to decide, so check in with your human resources team to find out your options.

RELATED: HRA vs. HSA vs. FSA

How to use FSA money

Regardless of which option you have in your FSA account, you will need to spend all of your remaining money before a certain deadline. And if that deadline is approaching, you may need ideas on how to spend that remaining FSA money. You have a few options, including traditional healthcare expenses, dental and vision care, and prescription and OTC medications.

Here are 81 ways you can use your FSA money:

1. Prescription medications and copays
2. Doctor’s visits and copays
3. Hearing aids
4. Wheelchairs
5. Crutches
6. Influenza, COVID-19, and other vaccinations
7. X-rays
8. MRIs
9. CT scans
10. Acupuncture
11. Chiropractic care
12. Physical therapy
13. Occupational therapy
14. Substance abuse treatment
15. Psychiatric treatment/therapy
16. Dental guards and night guards
17. Pain-relieving gel for teeth
18. Denture cleaner
19. LED light therapy systems
20. Heat packs
21. Acupressure mats
22. Transcutaneous electrical nerve stimulation (TENS) units and additional pads
23. Cooling fever relief sheets
24. Massage therapy balls
25. Massage guns
26. Orthodontics
27. Dentures
28. Dental cleanings
29. Braces and some invisible aligners
30. Orthodontic treatment
31. Cold packs and ice bags
32. Contacts
33. Prescription glasses
34. Reading glasses
35. Prescription sunglasses
36. Eye exams
37. Eye surgery, including Lasik
38. Bandaids, gauze, and other wound care items
39. Medical tape
40. Lip balm (SPF 15 or higher)
41. First aid kits
42. Antibacterial cream
43. Ace bandages
44. Knee, wrist, or ankle braces
45. Sunscreen (SPF 15 or higher)
46. Humidifiers (with a letter of medical necessity)
47. Thermometers
48. Over-the-counter pain relievers, like Tylenol, Advil, and Motrin
49. Over-the-counter cold and cough medicines
50. Aspirin
51. Topical analgesics
52. Calamine lotion
53. Hydrocortisone cream
54. Sleep aids
55. Saline nasal sprays
56. Sinus rinses
57. Medicated nasal sprays, like Flonase
58. Allergy medicine, like Zyrtec, Claritin, Allegra, and Benadryl
59. Panty liners
60. Menstrual pads
61. Menstrual cups
62. Tampons
63. Period underwear
64. Condoms
65. Other contraceptives
66. Pregnancy tests
67. Fertility tests
68. Infertility treatment
69. Ovulation monitors
70. Tubal ligation
71. Vasectomies
72. Prenatal vitamins
73. Ultrasounds
74. All expenses related to childbirth
75. Breast pumps
76. Certain baby monitors
77. Breast milk storage bottles and bags
78. Breast milk test kits
79. Diaper ointment
80. Nursing pads
81. Newborn doctor’s visits
82. Pedialyte
83. Ambulatory services
84. Hospital stays 
85. Urgent care visits
86. Medical records fees

Now get out there, and use your FSA money before it’s too late. If you need more suggestions, visit the FSA Store, where you can search and purchase any eligible items. Here’s to your health!