Flexible Spending Account Deadline Approaching

Flexible Spending Accounts (FSA) allow you to purchase health-related items or pay for dependents’ day care needs with money that isn’t taxed. If you enrolled in the Health Care and/or Dependent Care FSA in 2022, you have an important deadline approaching – you have until June 15, 2023 to use the funds in your account.

You must use all the money you contribute to an FSA during the plan year for which you made the contribution. Money left in your account after the claim deadline will be forfeited—you don’t get it back, and it doesn’t roll over. This is the IRS “use it or lose it” rule. 

To learn more about your FSA, click here.