My daunting task for today is to tally up my FSA receipts. I’ve been rather lazy and haven’t sent in any reimbursement requests at all. I have a manila folder stuffed with prescription medicine receipts, eyeglass receipts, doctor bills, dentist bills, you name it. I have this fuzzy total in my head that says we’re very close to the $500 we allotted for the account, but I need to make sure so we don’t waste any money.
For those of you who signed up for a Flex Spending Account but haven’t use it all yet, now would be a good time to do last-minute planning. It’s not too late to get a vision exam, eyeglasses, prescription sunglasses, or even some dental work to charge off on the plan. Other ideas for using it up include:
» Get advance refills on prescriptions if possible
» Stock up on over-the-counter drugs (’tis flu season)
» Flu shots, out-of-date vaccines like Tetanus
» Contact lense solution
» First-aid supplies like bandages, heat wraps, Neosporin
» Condoms and other birth control items
» Dietary supplements, including vitamins, minerals, herbals, and botanicals, are covered when used to treat a current illness, but not when used for general health purposes.
Less common ideas that may not apply to all plans:
» Reimbursed for mileage to and from hospital/doctor office
» Massage, acupuncture, and other alternative medicines
» Sunscreen, herb teas, certain skin care products
Drugstore.com even has a special FSA Store with more ideas and products to buy. It’s a very good resource for more ideas – and a very smart move on their part!
Also, check up on the final date allowed on your specific plan. If yours is like mine and ends on 12/31, make sure that you have a receipt dated in 2005. Other plans may allow you to spend your money up until March of next year.
By Jonathan Ping | Taxes | 11/20/05, 1:09pm