News Now

Consumer
Flex your money smarts and use up your FSA
McLEAN, Va. (12/5/07)--Don’t get so caught up in the holiday hustle and bustle that you forget to use the remaining dollars in your flexible spending account (FSA). Now’s the time to consider purchasing cold medicine, pain reliever, and extra contact lenses if you have money left in your account (USA Today Nov. 27). FSAs let employees set aside pretax dollars to pay for things not covered by insurance such as certain over-the-counter (OTC)/drug store items, co-payments, and eyeglasses. The catch: If you don’t spend the money by the end of the year--or, in some cases by mid-March--you forfeit the money and it goes back to your employer. Check the list at fsafeds.com/forms/OTC_QRG000.pdf to see what items qualify. Simple things such as ointment and bandages qualify, so give the list a good look or you may miss out. Generic brands of items also might be eligible. OTC items purchased to treat a general medical condition that are not preventative or cosmetic in nature are eligible expenses to claim. No toiletries are allowed. For other ideas of how to tie up 2007 using sound money management skills, get registered and join the Home & Family Finance Resource Center’s Financial Fitness Challenge.
Other Resources

RSS print
News Now LiveWire
Social media use helps CUs establish credibility/authenticity says Amaia Stecker, @CUNA sr. social media media mangr. http://t.co/wWAPeDe7UW
1 hours ago
#creditunion affinity card programs make the grade for schools See #NewsNow http://t.co/TThZIvMRTO
15 hours ago
Home-price appreciation softens further in July #NewsNow #Market http://t.co/0MXVy9sby0
16 hours ago
.@ChartwayFCU charitable arm, the We Promise Foundation, has reached the $1M fundraising milestone in a single year for the first time
17 hours ago
.@mncreditunions' Mark Cummins shares CU difference with @KIMTNews3 http://t.co/gkarhZxDRF
18 hours ago
150x172_Annual Report 2013Unite for Good Share your Stories100 Million CU Memberships