FSA Deadline Approaching | Stephens

Who We Are

What We Do

We provide investment banking, research, sales and trading, asset and wealth management, public finance, insurance, private capital, and family office services.

About Us

We are a family-owned financial services firm that values client relationships, long-term stability, and supporting the communities where we live and work.

The Stephens Story

The idea of family defines our culture, because each of us knows that our reputation is on the line as if our own name was on the door.

Leadership

Our reputation as a leading independent financial services firm is built on the stability of our longstanding and highly experienced senior executives.

Impact Initiatives

We are committed to corporate philanthropy; economic and financial literacy advocacy; and diversity, equity, and inclusion initiatives.

Our Brand Ambassadors

Stephens is proud to sponsor the PGA TOUR, LPGA Tour, and PGA TOUR Champions careers, as well as applaud the philanthropic endeavors, of our Brand Ambassadors.

Making Connections

We host many highly informative meetings each year with clients, industry decision makers, and thought leaders across the U.S. and in Europe.

Our Businesses

Capital Management

We provide fiduciary investment strategies to public-and private-sector institutional clients through asset allocation, consulting, and retirement services.

Fixed Income Sales & Trading

Decades of proven performance and experience in providing tailored fixed income trading and underwriting services to major municipal and corporate issuers.

Institutional Equities and Research

Proven industry-leading research, global market insights, and client-focused execution.

Insurance

Customized risk management, property & casualty, executive strategies and employee benefits solutions that protect our clients over the long term.

Investment Banking

We assist companies with accessing capital through innovative advisory and execution services that help firms achieve their strategic goals.

Private Capital

We have been a trusted and reliable source of capital for private companies for over 70 years.

Private Wealth Management

Our experienced Private Client Group professionals develop customized investment strategies to help clients achieve their financial goals.

Public Finance

We are a trusted municipal advisor with proven expertise in public financings. We also work with clients in negotiated and competitive municipal underwritings.

Market Trends

FSA Deadline Approaching

Dec 1, 2023

The end of the 2023 plan year is fast approaching, along with the deadline to spend any funds left in your health Flexible Spending Account. Review your account balance now to avoid forfeiting unused funds and sacrificing potential reimbursement for qualifying out-of-pocket medical expenses.

Flexible Spending Accounts (FSAs), also referred to as Flexible Spending Arrangements, are employer-established benefit plans that allow employees to pay for eligible medical expenses not covered by a health insurance plan with tax-free dollars.

These voluntary plans are generally “use-it-or-lose-it,” which means that any amount in the account at the end of the plan year cannot be carried over into the next plan year and will be lost once the deadline passes. However, your employer may offer one of these two options that allow you more time to spend your FSA funds or to carry over a set amount:

  • It can provide a "grace period" of up to 2 ½ extra months to use the money in your FSA account.
  • It can allow you to carry over up to the IRS limit per year to use in the following year.

Your employer doesn’t have to offer these options. If it does, it can be either one of these options, but not both.

Contact your plan administrator for specifics regarding your company’s FSA and any questions about a grace period of carry over amount.

Qualifying medical expenses may be incurred by you, your spouse, your child under age 27, or your tax dependent for the purposes of health coverage. Specific qualifying health expenses include:

  • Deductibles, copayments and coinsurance
  • Prescription medications
  • Over-the-counter medicines with a doctor’s prescription
  • Medical equipment (e.g. crutches, bandages)
  • Diagnostic devices
  • Vision care, including prescription glasses, contact lenses, and contact lens solution
  • Dental care
  • Personal protective equipment, such as hand sanitizer and face masks
  • Monthly period supplies
  • Baby monitors and baby thermometers

IRS Publication 502 offers a complete list of FSA-qualified expenses.

Check with your FSA administrator for information on your specific plan expiration dates, limits, and terms.