There's a pile of money with your name on it, and it may be sitting in an account you haven't checked since last January.
If you have a flexible spending account through your job, that balance doesn't roll over forever.
For many plans, the deadline to spend it lands at the end of the year or early the next one, and whatever is left typically goes back to your employer.
Roughly 35 million Americans have access to an FSA, according to industry estimates, and a chunk of them forfeit funds annually because they simply forget.
The average amount lost isn't pocket change for a household already stretched by grocery bills and rent.
It's a use-it-or-lose-it account, unlike an HSA, which follows you when you change jobs.
The rules vary by employer, which is where people get tripped up.
Some plans offer a grace period of up to two and a half months into the new year.
Others allow you to carry over a limited amount, which the IRS adjusts most years.
That means the only way to know your real deadline is to read your plan documents or call your benefits administrator, not to guess based on what a coworker told you.
So what actually counts as an eligible expense?
Prescription medications, eyeglasses, contact lenses, and dental work are the obvious ones.
But you can also stock up on bandages, thermometers, first-aid kits, and over-the-counter medicines if your plan allows them without a prescription, which many now do.
Some plans cover acupuncture, chiropractic visits, and certain medical equipment.
A few practical moves before the clock runs out: book that eye exam and order new glasses, schedule the dental cleaning you've been postponing, and refill prescriptions for the year ahead.
If you're close to your balance and need a legitimate medical purchase, a new pair of prescription sunglasses or a blood pressure monitor can close the gap.
Just keep every receipt, since you may need to submit claims for reimbursement.
One warning worth repeating: don't buy random items hoping they'll qualify.
If a claim gets denied, you're stuck with a product you didn't need and the money still disappears.
Check your plan's eligible expense list first, or use the FSA store your administrator provides if they have one.
If you're nowhere near spending your balance and the deadline is days away, it's worth asking your HR department whether a carryover or grace period applies.
Some employers quietly offer one and never mention it during open enrollment.
A two-minute email could save you a few hundred dollars.
The bigger takeaway is to stop treating your FSA like a set-and-forget account.
Estimate your yearly medical costs honestly, contribute accordingly, and set a calendar reminder for November.
A little planning beats donating your own money back to your employer.
It's one of the few financial deadlines entirely within your control, and yet thousands of households let it slide every single year.
Check your balance this week, not next month.
Final Thoughts
The money is already yours, and the only thing standing between you and it is a date on a form you probably never read.