Received the Truemed x Canyon promo email encouraging the use of HSA/FSA funds to buy a Canyon “before they expire”.
It’s true FSA (Flexible Spending Account) funds do not rollover indefinitely. Not a bad idea if you have no other use but check your plan details as you may have a grace period to use funds until March 15 or have a partial rollover feature.
However, HSA (Health Savings Account) funds never expire so there is no use-it-or-lose requirement. Save these funds when you really need them (e.g., broken collarbone, road rash repair, Tegaderm, etc… 😉).
Not that you couldn’t use a new bike, but don’t think you need to burn through your HSA by 12/31.
by gravelwatts
1 Comment
Asking for a friend, how does one justify using HSA funds? My claims get rejected whenever I try to get reimbursed for a 60 dollar heart rate monitor.