How to Buy Over-The Counter Items with a Flexible Spending Account (FSA)
- 1). Check with your employer to find out what the fiscal year for your FSA starts and ends. Flexible spending accounts do not necessarily run January 1 to January 1 - your FSA may run, for example, until March giving your more time to apply the FSA funds to purchases.
- 2). See the list of A-Z over the counter products in the resource section to check what type of items you may purchase under the rules of an FSA. You can stock up on aspirin or acne treatments (such as Neutrogena Acne Treatment or Proactiv Solution (which I personally endorse - the stuff works like magic).
- 3). Some items may go unnoticed as reimbursable by your FSA. I had no idea that a companion animal could be reimbursable. - if you have a service dog, check into this. Training, food, medications and vet visits are covered for all companion animals per FSA guidelines.
- 4). Maybe now is a great time to use those flexible spending account funds to work on your health and quit smoking. All smoking aids, such as Nicorette, are reimbursable expenses for an FSA. Even some health club fees may be paid through a flexible spending account. And, all sunscreens with an SPF of 30 or above are covered. In case you weren't diligent with the sunscreen, even aloe vera to treat the sunburn is eligible.
- 5). And, gentlemen, Viagra is now covered by FSA....
