Maximize Your Flexible Spending Accounts Now

If you have a Flexible Spending Account (FSA) set up with your employer, now is the time to prepare to get that money back by gathering all the receipts and invoices you can for expenses covered in your FSA.

Collect all of your receipts for covered services - from hospitals, clinics, doctors and pharmacies. Compare your receipts with your FSA allotment. If you haven't spent enough to get back all of your money, you should call your FSA plan management and find out if medical services qualify through the end of March, 2011.

Dental work, eye care - including glasses and contact lenses - and a number of other health programs may qualify as medical expenses. If you don't have all of your receipts, you can easily contact your clinic, pharmacy and other providers and ask them to print out your payments from their records. And, remember, expenses for which you are reimbursed through your insurance can't be deducted.