Are you wasting your expiring FSA and HSA funds?
Don't Lose It! Your Ultimate Guide to Use FSA and HSA Funds Before They Expire
The end of the year often brings a familiar scramble: how to spend down your Flexible Spending Account (FSA) dollars. If you feel this annual pressure, you are certainly not alone. It is incredibly important to use FSA and HSA funds before they expire, particularly because FSA funds are typically "use it or lose it." You worked hard for that money, so you should not let it go to waste.
Every year, thousands of people forfeit their funds simply because they are unsure what qualifies. As one expert noted, "The reality is that every year, thousands of people leave money on the table simply because they’re not sure what actually qualifies for HSA and FSA spending." The good news is that the list of eligible items is longer than you might think. You can invest in everything from high-tech recovery tools and fitness gear to vital supplements and health tests. This guide will provide dozens of smart and surprising ideas to help you invest in your long-term health.
What Can You Buy? How to Use FSA and HSA Funds Before They Expire
So where can you spend your pre-tax dollars? The list of eligible items is surprisingly vast, extending far beyond prescriptions and copays. It is a fantastic opportunity to invest in your long term health without dipping into your regular budget. You can finally purchase those wellness items you have been eyeing all year. Use them to invest in your health; not waste them!
One of the most impactful ways to use these funds is on functional health testing. If you have been struggling with vague symptoms like fatigue, inflammation, or gut issues, tests for food sensitivities, hormone levels, or gut microbiome health can provide crucial answers. As one expert puts it, if you have been meaning to "figure out what’s actually going on," this is a smart place to spend those funds.
Beyond diagnostics, you can stock up on a wide array of health-supporting products. This includes essential supplements like magnesium, Omega 3s, and multivitamins. You could also invest in advanced recovery devices like red light therapy panels, compression boots, or massage guns. Even everyday fitness equipment, such as resistance bands, kettlebells, and foam rollers, often qualifies. Other popular categories include sleep and stress aids like blue light blocking glasses, everyday essentials like sunscreen and blood pressure monitors, and women’s health products, including menstrual products and ovulation trackers.
Invest in Your Mindset: Daily Habits for Wellness
Beyond physical tools and supplements, investing in your mental and emotional well-being is a powerful way to support your overall health. Many stress-reduction and mental wellness programs are eligible for FSA and HSA spending, making it easier than ever to prioritize a healthy mindset. Building consistent, positive habits can be just as impactful as any supplement or fitness gadget.
To help you cultivate a purposeful routine, the 7 Minute Daily Morning Habits – Manifest Your Day with Intention & Energy guide offers a simple yet powerful framework. This digital guide is designed for busy individuals who want to start their day with calm and clarity. It provides a step-by-step formula that uses gratitude, visualization, and positive affirmations to align your energy and focus your intentions. By dedicating just seven minutes each morning, you can transform your mindset and manifest a more positive reality. This guide is perfect for anyone seeking a gentle, manifestation-based ritual to reduce stress and enhance their daily wellness journey, making it a thoughtful investment of your health funds.
| Category | Examples of Eligible Items |
|---|---|
| Functional Health Testing | Food sensitivity tests, gut microbiome kits, hormone panels, heavy metal and mineral testing. |
| Supplements | Magnesium, melatonin, Omega-3s, multivitamins, adrenal support (often requires a letter of medical necessity). |
| Recovery Devices | Red light therapy devices, infrared sauna blankets, PEMF mats, compression boots, massage guns, foot massagers. |
| Fitness Equipment | Resistance bands, dumbbells, kettlebells, foam rollers, stability balls, balance tools. |
| Sleep and Stress Tools | Blue light blocking glasses, sleep aids, Oura Ring, meditation apps (for diagnosed conditions), biofeedback devices. |
| Everyday Essentials | Sunscreen (SPF 15+), first aid kits, blood pressure monitors, glucose monitors, thermometers, heating pads, ice packs. |
| Women's Health | Menstrual products (tampons, pads, cups), heating pads for cramps, ovulation tests, fertility trackers, prenatal vitamins. |
Smart Strategies to Use FSA and HSA Funds Before They Expire
Navigating FSA and HSA rules can feel tricky, but a few simple strategies make it easy. Knowing how to confirm eligibility and where to shop ensures you maximize your funds. Remember the goal: "Use them to invest in your health; not waste them!" Here are some practical tips to help you spend confidently and effectively.
- Look for Eligibility Labels: Many online retailers clearly label products as "FSA/HSA Eligible," taking the guesswork out of shopping. This makes it simple to identify qualifying health and wellness items while you browse.
- Use Online Marketplaces: You can filter for eligible items on sites like Amazon. A helpful tip is to "toggle Amazon for FSA/HSA eligible," making it easy to find everything from sunscreen to fitness gear. Dedicated FSA/HSA stores also exist online, simplifying your search even further.
- Always Keep Your Receipts: This habit is crucial. Always save your receipts or invoices, as your plan administrator may require proof of purchase to verify expenses. Good record-keeping prevents reimbursement problems later on and keeps your spending organized.
- When in Doubt, Ask: If you're unsure whether a product or service qualifies, your plan administrator has the final say. Contacting them directly is the best way to get a clear answer and avoid any issues with your purchases.
Your Health is Your Wealth: Make Every Dollar Count
As the year comes to a close, now is the perfect time to take control of your health savings. You should not let your hard earned money disappear. Instead, you can use FSA and HSA funds before they expire by making smart investments in your long term wellness. From insightful health tests to restorative recovery tools and everyday fitness gear, the possibilities are both endless and empowering.
Think of this as a wonderful opportunity to prioritize your health without touching your regular budget. You can finally purchase that massage gun you have been wanting, stock up on essential supplements, or explore new wellness routines. By planning ahead, you ensure that not a single dollar is forfeited. So, take a look at your remaining balance and get ready to make some positive changes. Always remember the most important takeaway: “Use them to invest in your health; not waste them!”
Frequently Asked Questions (FAQs)
What is the main difference between an FSA and an HSA?
The biggest difference is that FSA funds are typically "use it or lose it" within the plan year, as they are sponsored by your employer. In contrast, HSA funds roll over indefinitely, allowing you to save and invest them for future health expenses. HSAs are paired with high-deductible health plans.
Can I really buy fitness equipment with my FSA or HSA?
Yes, but usually with a condition. Fitness equipment like resistance bands, kettlebells, or foam rollers may be eligible if your doctor provides a Letter of Medical Necessity. This letter must state that the item is needed to treat, prevent, or alleviate a specific medical condition.
Are supplements like magnesium or multivitamins eligible for reimbursement?
Generally, supplements are only considered eligible if a doctor prescribes them to treat a specific medical condition. You will likely need to submit a Letter of Medical Necessity with your claim. However, prenatal vitamins are a common exception and are usually eligible without a prescription.
What is the easiest way to find eligible items when shopping?
Many major online retailers, including Amazon, have dedicated FSA/HSA stores or filters that let you browse only eligible items. You can also look for products explicitly marked as “FSA/HSA Eligible” to simplify your search and ensure your purchases qualify for reimbursement.
What should I do if I’m not sure if an item is covered?
When in doubt, the most reliable source of information is your plan administrator. They can confirm whether a specific product or service is covered under your plan’s rules, helping you avoid any unexpected denials when you submit a claim for reimbursement.