Vegan Sunscreen Facial Moisturizer with SPF 30 High-Heel Insoles Blood-Pressure Monitor Warby-Parker-Eyewear-Logo
(Yep, these are FSA-eligible. Get more tips below.)

How Did Your FSA Do In 2016?

Happy 2017 folks!

Well, the end of 2016 (and the end of my FSA benefits year) has come and gone, and I recently reviewed my 2016 FSA account to see how I did. Did I burn down all of my FSA? Did I maximize my savings/income? Or did I leave a bunch of pre-tax dollars on the table? Let’s see:

Here’s a screenshot of my FSA administrator’s website (CONEXIS):

You see two accounts for the same time period (which is only a half-year because my employer is resetting our benefit year to start in January instead of July) because I had some left-over FSA balance from the previous 2015 year that was carried-over (see your FSA administrator to see if your employer allows this. Mine carried-over up to $500 of unused balance towards the following year!)

Anyway, I left a total of $1.09 on the table in 2016. Not bad! After getting disposable contacts, Warby Parker glasses, a bunch of dental, vision, and medical co-pays later, I used up all but $1.09. This makes me feel pretty good about actually taking advantage of the benefits that my employer gives to me in the form FSA, or health flex-spending.

I hope you did a good job in spending your FSA dollars to ultimately save on your hard-earned pre-tax income. If you still have a size-able balance, check if you have receipts left over from 2016. It’s likely that your FSA-administrator still allows you to claim reimbursements into 2017. And if not, check if any of your balance can be carried-over into 2017.

Most of all, be vigilant about using your FSA in 2017!

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Leave a Reply

Your email address will not be published. Required fields are marked *