Flexible Spending Account end-of-year deadline looms

FSA Spending
Posted at 2:34 PM, Dec 29, 2021
and last updated 2021-12-29 17:40:18-05

NORFOLK, Va. - The end-of-year deadline is coming up quickly for those people who utilize a Flexible Spending Account (FSA).

The deadline to use the pre-tax money in the account is December 31. If you don't use the money before the deadline, it goes back to your employer.

Norfolk resident Katie Petrillo has a FSA account. She said she has used it in the past to cover big ticket items like LASIK. She said she has also been one of the people who wait until the end of year to buy products.

"I buy like suntan lotion, little things that are covered by it," Petrillo said. "You just buy for the next year."

Dr. Anna Peoples is the owner of Peoples Pharmacy in Norfolk. She said they see an uptick in sales around this time of year.

"You’ll see people actually buying 2 or 3 where normal times they would only buy one," Peoples said.

She said customers buy items like cold medicine, feminine hygiene products, masks, cough drops, and much more. Most items that are health-related are FSA-eligible.