Name: FSA funds set to expire at the end the year
Uploaded: 2025-11-21T19:58:34.913Z
Duration: 2 min 50 s
Description: As the year winds down, many people are looking to cash in on their FSA health care funds. But as you stare at the shelves at the pharmacy, remember not everything is covered.

As the year winds down, many people are looking to cash in on their FSA health care funds. But as you stare at the shelves at the pharmacy, remember not everything is covered.

San Diego

As the end of the year approaches, individuals with Flexible Spending Accounts (FSAs) are urged to use their remaining health care funds, as most balances do not roll over into the next year. FSAs allow users to set aside pretax money for eligible medical expenses, with contribution limits set at $3,300 for individuals and $6,600 for joint filers in 2025.

Pharmacists and financial experts advise consumers to verify which items are covered before making purchases, as using FSA funds for ineligible products can lead to tax issues. The US Office of Personnel Management provides a comprehensive list of eligible items, and changes to FSA contributions can be made during open enrollment periods.

FSA funds set to expire at the end the year

As we get closer to the end of the year, many people are looking at cash in on their FSA health care funds. But as you stare at the shelves in the pharmacy, remember, not everything is covered. The arrival of cold and flu season is kept pharmacies like Proactive Care Pharmacy in Linda Vista busy, but they aren't just filling medication. They're also dealing with lots of questions about what's covered under health care FSA expenses. This flexible spending account is set up through your emergency manager or through your employer. It allows you to set aside pretaxed money to pay for certain out of pocket health care costs. An individual can contribute up to 3300 in 2025 and those filing taxes jointly can put in a max of $6600. This fund covers a wide range of costs from sunblock to childbirth classes, masks and dental and vision expenses. Pharmacy manager on fam walks us through popular items. You can use it for paint, relief, cough and cold medicine. Allergy medicine, antacid eyedrops, first aid. It also covers certain medical equipment and at home tests such as blood pressure monitors, COVID tests and diabetic supplies. The US Office of Personnel Management has a website that lists more than 300 items that are covered at each that lists more than 300 items that are covered and not covered. Fam says even if you aren't sick right now, it's best to stock up on items you'll need year round to cash in on the funds that are typically non transferable to the following year. Tiling on a coffin cold at rank from $5 to $20 maximum. But if you add add up those items, you can spend a couple $100 a year. And if you weren't sure if something's covered, check with your pharmacist. Fam says they know instantly when they ring up an item. This one when I scan the item. And then the FSA is so there's a check mark mean this one is eligible, but you do have to be careful in using the flexible spending account only for items that are approved. What this provides is Thomas Bowles, the owner of Telesis Tax and Financial, says a mistake could impact tax filing for 2025. It needs to be addressed somewhere. It needs because it's pre taxed and so now it's been used for not an eligible solution. So now it needs to be. Go back into the tax piece and and have taxation taken out of it. And if you're looking to make changes to the amount in your flex spending account, Bull says check with your benefits department as the changes can be made during your company's open enrollment. Marie Cornell, ABC 10 news.

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