A Flexible Spending Account (FSA) is a non-taxed savings account that allows you to pay for out-of-pocket medical expenses, such as eye care and eyewear. What you may not know is that many of these benefits will expire at the end of December.
While FSA follows a 'use it or lose it' rule, according to HealthCare.gov, your employer may elect to give you a grace period of up to 2.5 months to use the funds or allow you to carry over up to $550 to spend the following year. Clarify the details with your employer.