Ways to Use Up Your FSA Money
Last year around open enrollment time, my doctor “saw something” in an MRI that I got done. He told me not to worry but it could be a tumor. Well of course I worried and since we had til the end of the week to decide how much money we were going to put into the FSA account, we chose to max it out since there was a chance I’d be spending an awful lot of time with medical treatments.
Well luckily that “something” turned out to be nothing and we were left contributing $3,000 to the Flexible Spending Account. Now that the end of the year is coming, we had to scramble and think of creative ways to spend this money. Here are some things we did:
- Go to Costco. By doing this, I will reach my goal of spending $2500 to make up the extra cost in membership fees a little faster and I will be using up my FSA money. Killing 2 birds! The great thing about the Costco Pharmacy section is the items that are FSA eligible are labeled “FSA eligible” so you don’t need to carry around a list with you or anything. Just walk down the aisle and go spend happy. We stocked up on Nyquil, Tylenol, Thermacare, Anti-itch creams, Lubricant Eye Drops, Allergy Meds, Tums.
- Go to a pharmacy. I went to Walgreens. All FSA reimbursable items are listed on the price labels here. I went and bought hand sanitizer (yes they are reimbursable!), Vicks eye wipes (it wipes allergens and makeup from your eye), a basal thermometer, fertility tests, and tons of pregnancy tests. It was a little embarrassing standing at checkout with a cart full of fertility products but I figure they would come in handy one day when we decide to have kids.
- Lasik. My husband and I actually got this done a few years ago and yes, getting Lasik is reimbursable. This alone will probably use up most of the money in your FSA account. We paid $2400 per person and honestly, it was the best thing I ever did for my eyes. Before that I had a real hard time with contacts (they were always irritating my eyes) and glasses were just inconvenient. I am very grateful for this procedure and what it has done for my life!
- Go see a chiropractor. I started seeing my chiropractor every week just to have him loosen up my muscles, help me with stretching and correct my posture. It felt great and was a very easy way to use up more money.
- Get a note from your doctor. I suffer from allergies and asthma. So when I went to see my doctor for a refill on my inhaler, I asked him if he thought getting a humidifier and an air purifier would help. Of course he said yes, so I asked him to write me a note so I could buy one and get it reimbursed. You don’t even need to see your doctor to get the note. If your doctor knows you have allergies or asthma, you can simply call him and ask him to mail you the note. After I got the note from him, I went and bought a $200 humidifier, then bought a $560 air purifier from Costco and then spent another $200 on 3 years worth of filters for the air purifier. All of it was reimbursed.
- Get your teeth cleaned. I get my teeth cleaned every 6 months and am pretty good about keeping them cavity free. I had a very traumatic experience as a kid with cavity fillings and because of that, I will do whatever I can to avoid cavities. Taking care of your teeth can save you money and pain in the long run. I once got a quote for fillings for my cavities (which I did not have but we’ll save that story for another time) that totaled $1100. That’s how costly it can be! I’ve never gotten a root canal before but I imagine those are pretty expensive too.
