How to Protect Your FSA Dollars by NYE Deadline

NBC 5 Responds has tips to help you avoid losing hard-earned cash saved in flexible health spending accounts.

FSA rules vary by company. Some employers say employees must"use it or lose it" by Dec. 31. Others give more options.

Now is the time to check your FSA for your account deadline. You can also ask your company’s Human Resources department what happens Dec. 31. “Technically, what’s an allowable expense is what you could reasonably consume in a short amount of time,” Spiegel said. “So, if you were to buy an entire pallet of sunscreen, that might raise a flag or two at the IRS.”

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