The holiday season is upon us, and thoughts are turning to Thanksgiving dinners, Christmas morning, New Year’s Eve celebrations and much-needed reunions with friends and family. And in the mad rush to make sure everything is perfect, we often let other things fall through the cracks. Make sure you don’t do this with any flexible spending accounts that your family may have.
Workplace provided flexible spending accounts are very popular because you can save tax dollars and use the funds to pay for medically related expenses. In most instances, the funds must be used by Dec. 31 of the benefit year, and if you don’t use the funds, you will lose them.