A Flexible Spending Account is a special account you put money into that you use to pay for certain out-of-pocket health care costs.

At the end of the year or grace period, you lose any money left over in your FSA. So it’s important to plan carefully and not put more money in your FSA than you think you’ll spend within a year on things like copayments, coinsurance, drugs, and other allowed health care costs.

If you participate in a flex spending account through your employer, time maybe running out. Some plans require that you use it or lose it by December 31, 2015.