Tuesday, December 21, 2004

Health Care Flexible Spending Accounts

If you have a health care flexible spending account for 2004, the deadline is fast approaching to use up the money. An article in USA Today gives some tips for using up the money in these accounts by December 31st:
• You can use the funds for over-the-counter drugs. In 2003, the IRS ruled that a flex account can be used to buy non-prescription drugs. Not all over-the-counter drugs are eligible. For example, you can't use flex-account funds to buy vitamins unless they're prescribed by your doctor. But the list of eligible over-the-counter products is long, ranging from allergy medications to contact lens solution.


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