Health care “shopping” can be great if you know your way around. But it can also be a little overwhelming because of the sheer number of options available to you. Flexible Spending Accounts (FSAs) can offer relief from increasing health care costs because these benefit plans rely on pre-tax money for qualified health expenses.
Not only can you save on FSA eligible products, but an FSA also gives you access to health care services and thousands of everyday products such as sunscreen, contact lens solution, band-aids, heat wraps, breast pumps, and baby care.
Each FSA plan year, employers take money out of your paychecks based on how much you choose to set aside. Beginning in 2013, FSA plan contributions are limited to $2,500 per person. Before you get an FSA, it is vital to calculate how much you want to spend using your FSA.
Because FSAs are “use it or lose it” any money unspent is forfeited when your plan year ends. Some employers provide a grace period – or an extension of coverage – up to two and a half months. One big deadline coming up is March 15.
FSAstore.com is a one-stop-shop stocked exclusively with thousands of FSA-eligible products, a national provider database and a Learning Center that answers FSA-related questions. You can save on FSA-eligible products throughout the year with FSA Store’s special offers. Check these out before your grace period ends on March 15.
Disclosure: This post is part of a sponsored campaign on behalf of FSA Store.
About Amy @ Oh So Savvy Mom
Interesting! We’ve never done an FSA. Perhaps we should really look into it!
Sara @ Mom Endeavors recently posted..BISSELL CleanView Vacuum Review
This is sounds like a great plan and I’ll have to look into setting one up for ourselves.
Tesa @ 2 Wired 2 Tired recently posted..Shopping For Evening Dresses
I honestly don’t know if we have one or not – perhaps I should ask my hubs!!
Emily @FamilyNLifeLV recently posted..Disney’s OZ The Great and Powerful is Real Magic! #DisneyOZ
We underestimated our health spending and didn’t save as much as we could have… Hopefully we’ll get it right one of these years!
Ree recently posted..Review: Paper, by FiftyThree app for Apple iPad
Loved our flexible spending account for things like dental cleanings and glasses when my husband and I were employed elsewhere. Now that he works for the family farm we don’t have the same option. If careers ever changed, I would do it again in a heartbeat!
Andrea Kruse recently posted..Comfort Food Friday – Baked Lemon & Kale Pasta
This is something that I have really been thinking about starting for my family.
Lolo recently posted..Oz The Great And Powerful Transports You To Another Yet Familiar Place
I’m a huge fan of FSA plans, great site, thanks! We’ve been taking time to calculate out our yearly spending and it makes a big difference with an FSA.
Thanks for the great reminder. I have to get the FSA paperwork in!
Kerri @SavvyMomNYC recently posted..7 Years Younger with Good Housekeeping
We have used an FSA for years now and it really helps us out. The only bad thing about it is how the money not used can’t be turned over into the next year. If they would change this I am sure many more people would use them. But if your family is pretty healthy, it can be hard to predict how much they will spend on health care in one year.
Digna (Autumn Blues) recently posted..Return to Nim”s Island Blog App and Blu-ray Combo Pack Giveaway
OMgoodness! We have some of that use it or lose it funds that we are about to lose! I had no idea that such a store existed!!! I am totally going to find out how I can use our’s on the site! Yay!!
Closer to Lucy recently posted..Best Date And Dinner Ideas For Prom
thanks for the information. we have to look into this some more. This will definitely come in handy when you need pay some high healthcare costs/fees. thanks for sharing.
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