More than a third of workers with a grace period, 37%, end up forfeiting part or all of their contributions, according to EBRI. However, that's below the 48% with a traditional Dec. 31 deadline who forfeit money, and 49% of those who are allowed to roll over money.If you're uncertain what the rules are for your FSA, reach out to your company's human resources department, Rouleau said. Alternatively, you can check your online FSA portal for information.
For starters, over-the-counter drugs no longer need a prescription to qualify. This includes things such as cold medicines, anti-inflammatories and allergy medicine. Additionally, menstrual care products are now eligible, as are items that have become pertinent during the pandemic: at-home Covid tests, masks, hand sanitizer and other personal protection equipment used to combat the virus., which generally means you can't buy more of a product at one time than you can use in that tax year.
And, of course, you can use your FSA funds for expenses such as doctor and dentist appointments, prescription drugs and other health-care services such as acupuncture and addiction treatment. There also are items that you may not know qualify, such as sunscreen, thermometers, eyecare products, baby monitors and pregnancy tests. FSAstore.com has
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