In the summertime, when the weather is hot… you have expenses you need to pay for.
Stocking up on sunscreen, new sunglasses, and other summer essentials can be expensive, but many seasonal items can be paid for using tax-free funds from a flexible spending account (FSA).
This can be a great option if you’re worried about paying for summer costs and/or if you have an FSA with a use-it-or-lose-it rule – where the account balance will not roll over from one plan year to the next – and you don’t want to scramble at the end of the year to use the funds.
I recently put together an in-depth post, Summer Items Covered by an FSA, talking about many of those items. But, knowing that you might be in a hurry to get to the beach or your summer destination of choice, the infographic below highlights some of summer’s FSA-eligible expenses for you.
So there you have it. Prescription sunglasses, sunscreen, and many other items you may need this summer can be covered by an FSA.
Now maybe you won’t have to “sweat” those costs, allowing you to focus on enjoying everything this season has to offer.
What do you think? Will you be using your FSA to pay for any summer expenses? Let us know on Twitter via @ConnectYourCare.
> Employee Next Steps: Interested in more FSA tips? Download our FSA For Dummies® eBook to learn more about eligible expenses, contribution rules, and much more.
Disclaimer: ConnectYourCare does not provide tax or legal advice. This information is not intended and should not be taken as tax or legal advice. Any tax or legal information in this notice is merely a summary of ConnectYourCare’s understanding and interpretation of some of the current tax regulations and is not exhaustive. You should consult your tax advisor or legal counsel for advice and information concerning your particular situation before making any decisions.