"Fun" and "spending pre-tax savings before the end-of-year forfeiture deadline" aren't two things that usually go together. But if you have money left over in your healthcare flexible spending account, you'll lose it soon unless you spend it on something. So why not something that'll make your life a little better in 2023?
The maximum you could contribute to a tax-exempt flexible spending account this year was $2,850. The catch, though, is that you can spend that money only on qualified medical purchases, such as co-pays, prescriptions and doctor's bills. But you can also use it to restock your medicine cabinet, prepare for the "triple-demic" winter, and even pick up some fun and surprising things you might not know about.
What about rolling over unspent FSA dollars into 2023, or having a grace period to spend them? Well, that depends on your specific plan. Your employer can opt to let people roll over up to $570 into next year or to give them an additional 2.5 months at the start of 2023 to use up their accounts. Email your company's human resources person or benefits administrator and ask if you're eligible to do either of those things. If your employer didn't choose one of those options, you'll need to use up your remaining balance by Dec. 31. Whatever you don't spend will be forfeited.
