If you have a flexible spending account through work, there's a decent chance a few hundred dollars are sitting in it right now with an expiration date attached.
For most account holders, it's written directly into the plan rules.
Here's the part that trips people up: the deadline on your FSA isn't always December 31.
Some employers offer a grace period that pushes spending into mid-March.
Others offer a carryover that lets a limited amount roll into next year.
The only way to know which camp you're in is to check your plan's summary — not your coworker's memory of last year.
Start by logging into your benefits portal and finding two numbers: your remaining balance and your exact run-out date, which is the final day a purchase counts.
Claims usually have to be submitted after that, so the paperwork deadline can land weeks later.
Miss either one and the money simply goes back to your employer.
Then pull the receipts you've already collected.
Glasses, contacts, dental work, therapy, prescriptions, and many over-the-counter items qualify, but the rules shifted a few years back.
Since the CARES Act, most OTC medicines and menstrual products count without a prescription.
Sunscreen does too, which surprises almost everyone.
If your balance is still healthy, book the appointments you've been putting off.
An eye exam plus a new pair of glasses can absorb a surprising amount, and vision centers tend to have openings this time of year.
Dental cleanings, fillings, and orthodontia payments also count, and many offices will let you prepay for treatment scheduled later.
The FSA Store and similar sites exist specifically for this scramble, but treat them as a last resort.
Prices there often run higher than what you'd pay at a regular retailer for the same bandages and thermometers.
If you're buying anyway, at least compare before you click.
One warning worth repeating: an FSA is not the same as an HSA.
Health savings accounts have no deadline, and the money is yours for life.
Flexible spending accounts are tied to a single plan year, which is exactly why the calendar matters so much right now.
Set a reminder for two weeks before your run-out date and again for the claims deadline.
Then spend deliberately rather than panic-buying a drawer full of things you'll never open.
Our take: this is one of the few money deadlines where a little planning beats a lot of regret, and the stakes are entirely yours.
Final Thoughts
Ten minutes in your benefits portal today could save you several hundred dollars that would otherwise vanish.