A must-add to your Black Friday Shopping list

For many of us, there are millions of Black Friday ads crossing our screens this month.

But there's one ad we are willing to bet you haven't seen...

and the good news is... 

You already saved the money! Now all you have to do is spend it!

So, while you are thinking of all the Black Friday purchases you are going to make, consider taking time to plan how you are going to spend your remaining FSA dollars. Most FSA programs, whether for medical costs, childcare, or transit, operate under "use it or lose it" rules. This means unspent FSA dollars don't roll over and won't be returned to the account holder. While many plans offer a grace period after the end of the year to file claims, dollars can only be used for costs that were incurred in the plan year. So, the money you save in your 2022 FSA account can only be used towards services you utilized or items you purchased in 2022.

So how do you get your money's worth of this year's plan?

Now is a great time to check your balance, confirm your payroll deductions are still right, and spend any unused funds. 

Here are a few ideas to get you started:

  • Schedule non-emergency medical care to maximize health insurance coverage
    • If you've exceeded your plan deductible for the year and have a pending procedure, consider scheduling it to occur before your deductible resets at the beginning of the new plan year. 
    • If you haven't met your deductible but you anticipate a major expense next year (e.g., surgery or maternity care), consider waiting until next year to schedule non-urgent / non-acute care
  • Schedule an eye exam or get another pair of glasses... or maybe get those prescription sunglasses you've been eyeing. 
  • Pre-pare for an emergency or just restock your medicine cabinet
    • Band-Aids
    • First aid kits
    • Athletic braces & supports
    • Heating pads & ice packs
    • Sunscreen
    • Allergy medicine
    • Air purifier 
    • Upgrade your hearing aids

Looking for more ideas? Shop the FSA store this Black Friday!

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