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December 22, 2014

3 tips to use up your health account funds

  • Eligible expenses generally have some connection to health, but that theme has its limits.
    • By TOM MURPHY
    AP Business Writer

    Sunscreen may not top many shopping lists this time of year, but stocking up now can keep you from wasting money.

    December is the final month for many people with employer-sponsored health coverage to spend the remaining balance in their health care flexible spending account. More than 15 million workers have these accounts, which gave customers a chance to set aside up to $2,500 in pre-tax wages this year for health-related expenses not covered by insurance. But these accounts come with a big catch: Often you have to use the balance before the plan year ends or you lose it.


     
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