Spend It and Claim It Web Guide

for Health Care and Dependent Care Plan Participants

8 Tips to Maximize and Spend Down Your FSA Before the End of the Plan Year

Need help with all the ways you can use your health or dependent care Flexible Spending Account (FSA)? We've put together eight tips to guide you. Be sure to use the money in your account before the end of your plan year. You lose any remaining balance per Internal Revenue Service (IRS) rules.

  1. Check eligible expenses lists - A recent survey shows nearly 80% of household decision makers have a hard time identifying eligible FSA expenses. Make sure you're familiar with IRS-approved expenses for your health and dependent care FSAs by visiting the WageWorks website. For lists specific to your employer's plan, log into your account at www.wageworks.com. Take a look, there might be several items that you need or have already bought.
  2. Get prescriptions for OTC medications - Since January 2011, prescriptions are needed in order for over-the-counter (OTC) medications to be reimbursed by FSAs. If your doctor recommends OTC medicines for wellness or to treat illness, be sure to ask for a prescription.
  3. Turn in any outstanding receipts - If you have receipts for doctor visits, day camp or other eligible expenses, be sure to submit them for reimbursement. WageWorks makes it easy with online claim submission and our EZ Receipts™ mobile app.
  4. Replenish first aid kits and other medical supplies - It's always good to be prepared. Your FSA can help you resupply your medicine cabinet with contact lens solution, bandages and more.
  5. Schedule routine medical appointments - Make sure everyone in your family sees the doctor, dentist and optometrist at least once a year.
  6. Get a flu shot and vaccinations - Keep everyone current on vaccinations and get a flu shot each fall.
  7. Live healthy with wellness goals - Having wellness goals can help you stay healthy and avoid future medical expenses. Your FSA can help with smoking cessation programs and weight-loss counseling when prescribed by a doctor and deemed a medical necessity.
  8. Log your miles for reimbursement - Travel to and from eligible medical appointments can be submitted for reimbursement. The IRS determines the mileage reimbursement rates for healthcare based on the date the service is incurred. As of January 1, 2019, mileage for travel to/from eligible healthcare services is $0.20 per documented mile.
A Limited-Purpose Flexible Spending Account (LPFSA) allows you to use pre-tax dollars to pay for qualified dental and vision expenses (such as dental cleanings, fillings, vision exams, contact lenses, lens solution/cleaner and prescription glasses). The entire balance you choose to contribute to your LPFSA is available to you at the beginning of the year. Please remember to adhere to your employer’s summary plan description with regards to any rollover provision or grace period.

To learn more about FSAs, including how and what you can use them for, watch our video series at www.wageworks.com/videos. On this page you will also find short videos to help you with accessing your account online, submitting claims and using our EZ Receipts® mobile app.