You Only Have 24 Days Left to Use Your FSA Funds. Here Are 10 Things You Can Spend Them On

You can spend this money on a lot more than just doctor bills.

Flexible spending accounts (FSAs) enable you to save for medical expenses without paying taxes on the money you put here. They're useful tools to have, but they come with a big caveat: Money you put into these accounts doesn't carry over to the next year. If you fail to spend it by Dec. 31, you could lose it.

There are only a few weeks left to spend your 2022 FSA dollars. You can spend them on the more obvious choices like your health insurance, prescription drugs, and any medical bills you have. But here are 10 other things you may not know that you can buy with your FSA funds.

1. First aid supplies

You can use your FSA funds to purchase bandages, over-the-counter pain relievers, antibacterial ointments, and anything else that might appear in a first aid kit. Though you may not have an immediate use for these items, they still count as healthcare supplies.

2. Some baby supplies

You're not able to use your FSA funds to buy your baby a cute new onesie, but you can use them to buy things like baby sunscreen, thermometers, or even baby monitors. You can also use your FSA savings to purchase nursing supplies, like a breast pump.

3. Dental care

Cleanings, fillings, root canals, and any other dental care you need are another option for spending your FSA funds. Oddly, you can't use this money to purchase toothbrushes, toothpaste, or dental floss. But if you go to the dentist, you might get some of these things as part of your visit.

4. Vision care

Now's the time to book an appointment with the eye doctor if you need one. You can use your FSA funds to cover the cost of the appointment as well as glasses or contacts and any applicable supplies, like contact solution.

5. Acne treatments

Over-the-counter acne treatments with active ingredients like salicylic acid or benzoyl peroxide are an option for those who are interested in this.

6. Ancestry kits with health reports

If you've ever been curious about your ancestry, consider spending your FSA dollars on a DNA test kit. But you have to be careful about which one you choose. In order to use your FSA funds, the test needs to have some sort of health component, like screening for your likelihood of developing certain health conditions. If it has other features as well, that's just a bonus.

7. Aids to quit smoking

Those setting a New Year's resolution to quit smoking or vaping can get a jumpstart on it by using their FSA funds to purchase nicotine patches and gum. Other aids to quit smoking, like lozenges, are covered as well.

8. Family planning supplies

This encompasses everything from pregnancy tests and fertility treatments to prenatal vitamins and even some birthing classes. Those on birth control may also use their FSA funds for this as it is a prescription medication.

9. Sunscreen

Most of us are a long way from the time of year when we need sunscreen, but this could still be useful if you plan to go on vacation somewhere warm. If you plan to save some for summer, make sure you check the expiration date to make sure it'll still be good by then.

10. Feminine hygiene products

Feminine hygiene products weren't an option for FSA spending for many years. But this changed in 2020 thanks to the Coronavirus Aid, Relief, and Economic Security Act.

What if you can't spend it all in time?

Hopefully, you can figure out some things you'd like to spend your remaining FSA funds on. But if you don't think you'll be able to spend them all before 2023, talk to your employer. Some companies will grant you either an additional 2.5 months to use your remaining funds or allow you to carry over up to $500 to spend in 2023. It's best to check into this right away. If you don't have either of these options, you'll need to get shopping quickly to avoid losing what's left in your FSA.