Today’s year-end planning tip is regarding spending any remaining FSA funds
If you or your clients have employer-sponsored benefits, they may have access to a flexible spending account (or FSA). FSAs allow you to contribute pre-tax money, up to a certain amount, to an account that can be used to pay for eligible out-of-pocket health care expenses OR eligible dependent care services, such as childcare.
However, FSA funds typically are “use it or lose it,” meaning they generally can’t roll the full amount into the next calendar year. To avoid losing any unspent funds, make a plan to use the money before December 31st.