FSAs are health benefits offered by some employers in the United States that allow an employee to set aside pretax dollars from their paycheck into a special account that is to be used to pay for eligible health related expenses.

Most FSA dollars are “Use It or Lose It” which means that you have until the end of your benefits period to spend all of your FSA dollars or they are forfeited. Always check the specifics of your plan, because some FSA plans allow a grace period through the beginning of the new year for you to spend your FSA dollars and others allow a portion of your FSA contributions to roll over into the next year.