If you have a flexible spending account through work, there's a good chance a chunk of your own money is sitting in it right now, quietly running out of time.
Use-it-or-lose-it rules mean whatever you don't spend by your plan's deadline can be forfeited back to your employer.
For millions of American workers, that deadline lands at the end of the calendar year, though some plans run on a different schedule.
The average account holder contributes somewhere in the low four figures annually, and surveys consistently find that a meaningful share of workers leave money behind.
It's not because they don't need the cash.
It's because the rules are confusing, receipts get lost, and life gets busy in December.
The first thing to do is check your plan's actual deadline, since it isn't always December 31.
Some employers offer a grace period of up to two and a half months into the new year.
Others use a carryover, letting you roll a limited amount forward.
Many plans offer neither, which means the clock is real.
Once you know your date, log into your account and look at your balance.
The list is longer than most people assume: prescription copays, glasses and contacts, dental work, bandages, thermometers, sunscreen, menstrual products, and certain over-the-counter medicines.
Some plans now cover telehealth visits and specific health items without a prescription.
If you are staring down a balance you can't easily spend on care you actually need, don't panic-buy random stuff you'll never use.
A better move is to schedule the appointments you've been putting off.
That dental cleaning, eye exam, or dermatology visit counts, and you were probably due for it anyway.
You can also stock up on items you'll genuinely use over the next year, like contact lens solution, first aid supplies, or pain relievers.
Just confirm each item is eligible under your specific plan before you buy, because rules vary and a denied claim is worse than no claim.
If you use a debit card linked to the account, some purchases still require documentation later, and missing paperwork can turn a valid expense into a rejected one.
Photograph receipts and upload them the same day so nothing gets lost in a drawer.
One more thing worth knowing: if your employer offers an HSA alongside a high-deductible health plan, that money never expires and can be invested.
If you have the choice, the HSA is usually the more forgiving long-term tool.
An FSA still makes sense if you have predictable medical costs, but it rewards planning and punishes procrastination.
This is your money, not a bonus for your employer, and the system is designed around people forgetting.
Set a reminder for next week, check your balance, and spend it on care you need.
Final Thoughts
A few minutes now beats watching hundreds of dollars evaporate on January 1.