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Why Your Flex 125 Funds Are More Flexible Than You Think

Why Your Flex 125 Funds Are More Flexible Than You Think

“Use it or lose it” applies to a lot of things in life! Let’s look at how it applies to your Flexible Spending Account (FSA) funds. Those tax-free funds that you’ve saved all year likely expire on December 31, so your hard-earned dollars could be lost if they’re not used. Yikes! If you contribute part of each paycheck to your FSA but don’t have a clear understanding of what services or products qualify for spending those funds, then here’s a crash course to help you. First and foremost, FSA funds can be used for everyone in your immediate family. That includes you, your spouse, your children, or any other eligible tax dependents (as listed on this...