Stop Running From Your FSA

EPISODE RESOURCES

Eligible FSA Expenses

Maximizing Your Flex Spending Account: Overcome Hesitations and Save Money

In this episode, we address common fears and hesitations around signing up for Flex Spending Accounts (FSAs) during open enrollment season. The episode starts by explaining open enrollment and emphasizes the benefits of FSAs, which are often underutilized compared to Health Savings Accounts (HSAs) and Dependent Care FSAs. We dive into the practical uses of FSAs, including eligible health expenses and over-the-counter items. Additionally, we cover how to plan your contributions, manage reimbursements, and navigate plan rules to maximize your tax savings. By the end of the episode, you'll have actionable tips to seamlessly integrate FSA use into your financial planning.

00:00 Introduction to Flex Spending Accounts
00:52 Understanding Open Enrollment
01:27 Focus on Flex Spending Accounts
02:12 Benefits of Health and Dependent FSAs
02:46 Common Concerns About FSAs
03:40 Maximizing Your FSA Benefits
04:36 Eligible FSA Expenses
05:45 Planning Your FSA Contributions
06:53 Using FSA for Regular Purchases
08:23 Employer Rules and Reimbursements