Watch our commercial on CBS explaining how you can save money on the OTC medicines you take.

Find out more about the making of this commercial.

Flexible spending and health savings accounts are valuable programs offered by many employers to help you save money. They work by allowing you to put aside pre-tax dollars in order to pay for health-related items throughout the year. In late 2003, the healthcare products eligible for flex spending reimbursement expanded to include many of the over-the-counter medicines you rely on for yourself and your family.

Getting the Most of Your Flexible Spending Account

If you have a flexible spending account or plan to join a program, here’s some helpful advice:

1. Decide carefully how much money you want to include in your account for the year.
2. Keep careful track of your account, so you don’t run the risk of leaving any funds in it unspent at the end of your account year.
3. Spend all the money you have set aside in your account. With flexible spending accounts, it’s use it or lose it.
4. Get a list from your benefits administrator outlining the types of product that are eligible in your company’s program. Ask if over-the-counter medicines are included in your program.
5. Keep receipts. You will need those receipts when submitting for reimbursement.

The most important piece of advice is to remember that the goal of a flexible spending account is to use all the money you set aside. If you don’t use it, you lose it.

The Consumer Healthcare Products Association has an informative brochure available online. This brochure—as well as employer breakroom posters—also are available for order at no charge.