Spend Your Funds in the Fall With These Helpful Hints

September 18, 2018

The arrival of autumn means a lot of different things. Football season is here. Children are fully immersed in school. Farmers are harvesting their fields. And, for many of us, sweaters are back in style and the leaves are changing colors. Just as the trees shed their leaves in many parts of the country, you can start to shed your pre-tax benefits funds by spending them on common expenses that come up in the fall. We’ve compiled a few items you could purchase to prepare for autumn.

Fall eligible expenses

Allergies

Autumn is a unique season for allergies, as the cooler temperatures bring out season-specific allergy triggers. If you have a plan with eligible expenses determined by IRS Code Section 213(d), such as a Health Savings Account (HSA) or Medical Flexible Spending Account (Medical FSA), you can gear up to do battle with those pesky allergies by spending your plan dollars on:

  • Air purifiers (with a prescription)
  • Allergy products and treatments (with a prescription)
  • Allergy medicine (with a prescription)
  • Allergy testing

Athletics

With children back in school, athletic season ramps up in the fall. Sports such as football, volleyball and soccer can lead to a wide array of minor injuries that may require the following eligible expenses:

  • Antibiotic ointments (with a prescription)
  • Athletic tape
  • Bandages
  • First-aid cream (with a prescription)
  • First-aid kits

Regular Check-Ups

The plan year is drawing to a close for many participants. That makes fall a perfect time to evaluate any plans you have that are subject to the IRS’ use-or-lose rule, such as an FSA, to make sure you’re on track to spend all your plan dollars. There are a number of appointments you could schedule and fit in before the end of the plan year for yourself, your spouse or your dependents, including:

  • Physical check-ups
  • Vision appointments
  • Dental appointments

Are you curious what else qualifies as an eligible expense? Check out the interactive eligible expense list on our website.

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