CONTACT US
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Noel Santos
Emmanuel A. Santos JD CPA, Incorporated
447 Sutter Street, Suite 714, San Francisco, CA 94108
Phone: 415-362-8921
Fax: 415-362-8924
Cell: 415-412-5839
Email: noel@eas-cpa.com
Website: www.eas-cpa.com
Your Business...Your Family...Our Concern
October 2022
Maximize Your FSA
With the end of the year approaching, review your health care flexible spending account (FSA) to ensure you get the most out of it.
ROLLING OVER
Check to see if it allows money in your account to be rolled over and used in 2023. Some plans may allow a limited amount, usually no more than $500, to roll over. In comparison, some allow a short grace period of a month or two to use any unspent funds. But some plans have a "use it by December 31 or lose it" clause.If you're unsure, ask your human resources department because any money remaining in your account at the end of the designated period is forfeited to your employer.
QUALIFICATIONS
FSA funds can be used for a variety of qualified medical expenses. This includes over-the-counter medication and first-aid supplies. Dental procedures and eye exams are also covered. But remember that you can't use FSA money for cosmetic procedures, health clubs fees, or prepayment for medical services you'll receive next year.The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.