Friendly FSA Reminder: Don’t Let Your Dollars Vanish!

As the year winds down, take two minutes to check your Flexible Spending Account (FSA) details. Every plan is a little different — and not every employer sends reminders. That’s how people accidentally forfeit hundreds of dollars every year.

Here’s what to confirm:

When your plan year actually ends, don’t assume it’s December 31 — many plans run on off-cycle plan years.

Whether you have a grace period, some plans allow you to incur new expenses for 2.5 months after the plan year ends.

Your run-out period most employers give 60–90 days after the plan year ends to submit receipts for expenses you already incurred.

Your FSA carryover allowance - The IRS allows employers to let you carry over up to $640 or $660 (dependent on plan year) into the next plan year — But it’s optional, and employers choose whether to offer it.

Important note:

Employers can offer either a grace period OR a carryover — not both.
(And some offer neither.)

So before time (and your FSA dollars) run out, check your balance and your deadlines. Schedule that eye exam, reorder contacts, refill prescriptions — whatever you need to use what you’ve already earned.

Your future self — and your wallet — will thank you.