Make the most of your health care plan this holiday season

The holiday season is just around the corner, which means it’s time for good cheer and great food with friends and family. It also means that your time to spend the remaining funds in your flexible spending account (FSA) is nearing its end.

Not familiar with your FSA? It’s an account that many employers contribute tax-free funds into from your paycheck. This is a benefit that many employers offer, so you should double-check with yours to see if they’ve been contributing to an FSA on your behalf. If so, you may have some money to spend on health care.

What exactly is my FSA?

The purpose of the FSA is to help you save up funds to help pay for out-of-pocket medical expenses. This may include deductibles, copayments, medicine and even medical braces or other assistive devices.

The current maximum for an FSA account is $2,700 per year. If your employer has contributed up to this full amount and you haven’t used all or any of it, you may be at risk of losing it. At the end of the year, FSA funds deplete. Many employers offer flexibility options: either a 90-day grace period to extend the amount of time you have to spend your FSA funds or they can let you keep $500 of your remaining funds and roll it into next year.

Employers can only offer one of these options and have no obligation to offer either.

What do I do with my FSA?

The end of the year is near. If you still have funds in your FSA, now is the time to spend them before they deplete. So, what should you do?

FSA funds can only be spent on goods and services related to health care needs. Your top priority may be to schedule checkups or any other appointments you’ve been putting off. We recommend scheduling an appointment with a physical therapist.

Physical therapists are licensed health care professionals whose services qualify for FSA spending. At Armor Physical Therapy, our team can examine your physical condition and determine if you need any treatment. We can help reduce pain from chronic conditions like arthritis or muscle tension and we can help you recover from injuries.

Physical therapists also help you improve and maintain your physical condition. This helps you stay fit enough to get through daily activities and enjoy time with friends and family.

Come visit Armor Physical Therapy for an examination and treatment

Now that the end of the year is so close, you should be asking yourself if you’ve met or come close to meeting your deductible. If not, and you have an FSA, you may have some additional funds available for use until the year is finished.

Don’t put off care any longer. Our team is available to perform an examination and help you receive the physical therapy you may need. Contact us today for more information about making the most of your FSA or to schedule an initial appointment.