If you have a flexible spending account through work, there's a decent chance you're sitting on money that won't survive the summer.
Use-it-or-lose-it rules mean any funds left in your FSA after your plan's deadline can be forfeited.
For a household that set aside $2,000 or $3,000, that's real grocery-and-gas money slipping away.
The catch is that not every employer runs the same clock.
Many plans follow the calendar year and require you to spend down your balance by December 31.
Others operate on a plan year that ends in June or September.
Some offer a grace period of up to 2.5 extra months, and some allow you to carry over a limited amount — for 2024, that cap was $640, and it typically adjusts a little each year.
So the first move is boring but essential: log into your benefits portal and find your plan's actual deadline.
Don't trust memory or a coworker's guess.
Look for the words "grace period," "carryover," and "run-out period." That last one matters — it's the window after your plan year ends when you can still submit receipts for care you already received.
Once you know your date, the strategy gets simple.
Pull together every eligible expense you've paid out of pocket this year and file those claims first.
Copays, prescriptions, eyeglasses, contacts, dental fillings, therapy sessions, and even some over-the-counter items if your plan covers them.
A stack of unsubmitted receipts is the easiest money you'll ever recover.
If you're still short, the FSA Store and similar retailers let you shop by eligibility, and many plans now reimburse sunscreen, bandages, menstrual products, and allergy medicine without a prescription.
A quick eye exam plus a pair of glasses can wipe out several hundred dollars in one afternoon.
Just confirm your plan's rules before you buy, since some employers require a letter of medical necessity for certain items.
One warning worth repeating: don't panic-buy random stuff you'll never use just to zero out the balance.
Spending $200 to save $150 in forfeited funds is a losing trade.
Buy things your household will genuinely consume in the next year.
Also check whether your employer offers a dependent care FSA separately.
That money has its own deadline and its own rules, and it's usually the larger balance for families paying for daycare or after-school care.
If your deadline is truly close and you can't spend it all, ask HR whether a carryover or grace period applies to your specific plan.
Some employers quietly offer one and employees never ask.
The takeaway here is that an FSA is a use-it-or-lose-it bet you make against your own future medical needs, and the house wins when you forget the deadline.
Ten minutes in your benefits portal this week is worth more than an hour of coupon clipping.
Final Thoughts
Set a phone reminder for two weeks before the cutoff, and treat that balance like cash — because that's exactly what it is.