Still Have FSA Money to Spend?

If you're looking for ways to use your FSA money here are some useful (and eligible) ideas.

illustration of a hand holding money and another one holding health care tools and medication
(Image credit: Getty)

Flexible spending accounts, or FSAs, allow employees of companies that
offer the accounts to set aside pre-tax money from their paychecks for out-of-pocket healthcare or dependent care expenses. Almost 25% of FSAs require account holders to spend all the money by the end of the plan year, forfeiting their funds if they miss the deadline, according to the Employee Benefit Research Institute

The rest offer some wiggle room, with 42% of FSAs permitting employees to roll over a certain amount of unused funds to the following plan year and 36% offering a grace period of 2.5 months to use up the money. For FSA plan years that ended December 31, 2023, and have a grace period, you have until March 15, 2024 to spend the funds. And depending on your plan, you may have until March 31 to file claims for reimbursement of eligible purchases that you made before your FSA’s spending deadline.

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Lisa Gerstner
Editor, Kiplinger Personal Finance magazine

Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.

With contributions from