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STEVE SEXTON EXPLAINS: HOW TO SPEND YOUR FSA BEFORE THE DEADLINE

SEXTON ADVISORY GROUP CEO, STEVE SEXTON, ISSUES A friendly reminder to check your FSA balance and use it before the December 31st deadline, or you may risk losing it come 2024.


You must use your FSA funds by december 31st

Any contributed dollars to your FSA must be used with in the plan year - typically by year’s end. In most cases, if you do not use your FSA funds with in the plan year you will lose any leftover money.


what can i use fsa funds for?

FSA funds can be used for deductibles, copayments, prescriptions medication, over-the-counter medications with a doctor’s note, medical equipment, bandages and diagnostic devices. Some lesser known items are birth control, condoms, erectile dysfunction medication, breast pumps, sunscreen (SPF 15 or higher), travel for medical care, medical conferences, home improvement for the purposes of medical care, weight loss programs and alcohol or drug treatment, air quality products, ancestry kits with health reports, nicotine patches and gum, and shoe inserts.


understand your employer’s FSA policy

Employers do not have to provide or offer these options for FSA benefits. Some employers offer additional options providing a “grace period” of up to 2 and half months to use the money in your FSA or can allow you to carry over up to $610 into the next year.


For more financial advice, be sure you tune in to Saving With Steve Sexton.










friendly reminder to check your balance and use itbefore the December 31st deadline, or you may risk losing itcome 2024










friendly reminder to check your balance and use itbefore the December 31st deadline, or you may risk losing itcome 2024










friendly reminder to check your balance and use itbefore the December 31st deadline, or you may risk losing itcome 2024. friendly reminder to check your balance and use itbefore the December 31st deadline, or you may risk losing itcome 2024.










friendly reminder to check your balance and use itbefore the December 31st deadline, or you may risk losing itcome 2024.










friendly reminder to check your balance and use itbefore the December 31st deadline, or you may risk losing itcome 2024.

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