Flexible Spending Account (FSA) holders with calendar-year plans have barely three months left in their plan year, and some are looking for ways to spend down their balances. Although we’re past the back-to-school period here in Arkansas, you can still use FSA dollars to cover certain school supplies.
Some schools ask families to continuously replenish classroom first aid kits. Or you may have one or more children active in sports, with all of the associated cuts, bumps and bruises that may result.
FSA-eligible products can be found in-store and online from traditional retailers like Walmart or Target. For example, if shopping online, search for “FSA” to see eligible items such as:
- First aid supplies (bandages, first aid kits, etc.)
- Acne treatments
- Lice removal supplies
- Contact lenses, solution and cases
- Orthopedic braces and supports
- Menstrual care products
When shopping in-store, look for shelf tags bearing an “FSA-approved” label.
You can also shop at FSAStore.com*, the only online retailer that exclusively stocks FSA-eligible products and services.
Many families also schedule eye exams, new glasses, and dental care near the beginning of the school year. These expenses qualify for FSA dollars, with the exception of certain services such as teeth whitening.
There are a variety of ways to make the most of FSA funds. As we approach the end of calendar-year plan years, now is an excellent time to put your pre-tax dollars to work!
*DataPath Administrative Services may be compensated for items bought through our partners.