Flexible spending account deadline near

— -- In years past, depleting money in your health care flexible spending account before the end of the year was fairly straightforward. You made a midnight dash to the nearest 24-hour drugstore and bought enough cold medicine, ibuprofen and cough syrup to treat a year's worth of allergies, hangovers and scratchy throats.

This year, though, that strategy won't fly. You can still spend unused money in your flex account at the drugstore, but you'll need to be more careful about what you buy.

Flexible spending accounts allow you to use pretax dollars to pay for dental and medical expenses that aren't covered by insurance. They're funded by deductions from your paycheck, and you must decide when you enroll in your employer's insurance plan how much you want to contribute during the year.

At most companies, any money left in the account at year-end is forfeited, which is probably why only about 20% of eligible employees sign up for the accounts.

A provision in the health care reform act signed into law last year makes the task of zeroing out flex plans even more challenging. This year, account participants won't be reimbursed for purchases of over-the-counter drugs unless they have a doctor's prescription.

Fortunately, there are still lots of ways to use up flex account funds, even at this late date, says Jody Dietel, chief compliance officer for WageWorks, which administers flex plans for employers. Some suggestions:

•Go through medical and dental bills for the year. There may be some co-payments, deductibles or other out-of-pocket expenses you haven't yet submitted for reimbursement, Dietel says.

•Ask your doctor for a prescription for over-the-counter medications you take regularly. For example, if your doctor recommends that you take a pain reliever for arthritis, get a prescription and stock up.

•If you take a prescription medication for a chronic illness or condition, such as high blood pressure or diabetes, ask your doctor to write you a prescription for next year's supply. Refill the prescription before year-end, using flex account money to pay for your share of the cost.

•Don't overlook transportation costs. You can use flex account funds to cover the cost of driving to a medical or dental provider's office, Dietel says. The amount of mileage reimbursement, set by the IRS, depends on when you drove: Jan. 1 to June 30, the rate is 19 cents per mile; July 1 to Dec. 31, the rate is 23.5 cents. You can also be reimbursed for the cost of parking.

•Check your plan's rules. Some companies give employees until mid-March to spend money remaining in their flex accounts at year's end. If your company allows such a grace period, you'll have more time to use money in your account.

•If you've signed up for a concierge service, get an itemized list of costs. A small but growing number of primary care physicians are charging patients annual fees ranging from $1,500 to $10,000 for personal services, such as private waiting rooms and longer appointments.

The portion of the fees that cover actual health care services, such as a comprehensive wellness exam, is a qualified flex account expense, says Steve Wojcik, vice president of public policy for the National Business Group on Health. However, you can't use flex account money to pay for services that give you preferred access to your doctor, such as same-day appointments and after-hours consultations.

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