With all the holiday craziness, yet another end-of-the year shopping spree is going on. It’s that last dash to use up the remaining dollars in your health care flexible spending account. Flexible spending arrangements (FSAs) can help you spend less on health care, but only if you use yours correctly: by spending all the money in it before the looming year-end deadline.
FSAs are tax-advantaged accounts that can be used for medical expenses only; they’re sometimes also called flexible spending accounts. They’re different from health savings accounts, or HSAs, in that the money can be spent only in the calendar year it’s contributed.Read More