Do you find our website to be helpful?
Yes   No

Flexible Spending Accounts: Use ‘em or Lose ‘em

Clock with text "Time is running out."

As December 31st looms closer, a large number of Americans run into the same issue: they have money left in their flexible spending account (FSA). Unfortunately, most FSA and Health Savings Accounts (HSAs) expire at the end of the year. You either use this money or you lose it.

What is an FSA or HSA?

FSAs and HSAs are accounts where money is put aside pre-tax from a paycheck. They are provided by an employer for employee use. However, the funds are restricted to only certain types of purchases.

What can I buy with them?

Sadly, you cannot use these funds to order take out or take a vacation. Most of these types of accounts must be used for healthcare costs and associated health expenses. For example, it can be used for copays at a doctor, prescription medication, and dental costs. Some can even be used for over-the-counter medications like Advil or vitamins.

How can I use this to pay my expenses?

Depending on your plan, there are a few different ways these plans can cover your expenses. The main 2 ways are:

Can I use these funds at your office?

Yes (for most)! Pittsburgh Dental Sleep Medicine provides treatment for sleep apnea and TMJ treatments. Both of these are covered under most FSA and HSAs. Ultimately these are at the discretion of your FSA and HSA. We also help provide all the documentation needed for reimbursement to the plan.

Got funds left to use? Give us a call today at 724-935-6670

Author
Pittsburgh Dental Sleep Medicine Logo Pittsburgh Dental Sleep Medicine

You Might Also Enjoy...

TO FEAST, OR NOT TO FEAST

The holidays are quickly approaching and we all know what that means: hearty meals, gob-stopping sweets and treats, hot cocoa and other rich creamy delights, and maybe an alcoholic beverage or two! Learn how a 5-10 pound weight gain can be life-changing.

CPAP Recall and Alternative Treatment Options

Over 3.5 million Philips Respironics CPAPs and BiPAPs sold between 2009 and April 2021 are recalled due to toxic foam used in the devices. Many find replacing them too difficult or impossible. Learn about other treatments that may be just as effective.

Telehealth: The Advantages of Telemedicine

Struggling to get to the clinic? Trying to reduce your exposure to COVID-19, as well as other contagious illnesses, and still need to see your doctor? Telehealth is safe and easy — receive quality care from anywhere.

Snoring: How it Can Wreck Relationships

Remember when you used to cuddle, snuggle, and actually bedshare with your significant other?  Are those days long gone and you wish you could get back the closeness that your relationship once had?

Helpful Hints About Open Enrollment

This blog provides HELPFUL INFORMATION to make Open Enrollment make sense! Learn the What, Where, Why's, and When's about applying for health insurance.