- Even with good insurance, not all medical care costs are covered, leading to copays and deductibles. December is a crucial month for Flexible Spending Account (FSA) participants to spend their contributions, as FSA funds typically must be used by the end of the plan year. Failure to spend the money by the deadline could result in losing any remaining contributions.
- FSAs offer tax savings on medical expenses, but contributions must be spent by the end of the plan year. Some plans may offer carryover options or grace periods, but any remaining funds after the deadline are lost. Participants can spend FSA funds on medical services, products, and other eligible expenses before December 31.
- A $23,760 Social Security bonus is often overlooked by retirees. Learning how to maximize Social Security benefits can boost retirement income significantly. By joining Stock Advisor, individuals can access strategies to retire confidently with increased peace of mind.
Read more at Nasdaq: Don’t Let FSA Funds Go to Waste — Why December Is Decision Month