More than $ 500 million in unused Flexible Spending Account (FSA) funds could be forfeited until the use or loss deadline of December 31 as optional COVID deadline extensions expire
NEW YORK (PRWEB) December 20, 2021
Misperceptions are high regarding the temporary Flexible Expense Account (FSA) timeline and rollover extensions that were enacted in 2020 in response to COVID-19. As a result, millions of US consumers are at increased risk of losing FSA funds until the December use-by-or-loss date. In addition to urging account holders to confirm their deadline with their employer or FSA administrator, FSAstore.com – the first and largest online marketplace for exclusively qualifying FSA shopping, tools and education – features the following 10 ways to spend remaining FSA funds before the December 31 deadline.
10 ways to spend FSA funds before December 31
- Pain relief products without medication. Manage everyday aches and pains with products free of drugs or active ingredients, such as Aura Revive Deep Muscle Pain Relief Heated Device, BioWaveGO Wearable Chronic Pain Relief Technology, Posture PumpÂ® Dual Deluxe Full Spine with Disk Moisturizer, Model 4100-D, or the Sharper ImageÂ® Soothing Heat Massage Weighted Heated Pad, 12 “x 24”, 4 lbs.
- First aid kits. A fully equipped first aid kit is an essential for home, office, cabin, car, or on-the-go adventures. Choose from a wide variety of prepackaged first aid kits, including American Red Cross Deluxe Family First Aid Kit, Adventure Medical Pro Series Guide First Aid Kit, Adventure Medical Mountain Mountaineer First Aid Kit, and the Welly First Aid Kit – 130 ct.
- Products for newborns and new parents. From baby health monitors and breast pumps to diaper rash ointment, use your FSA to buy everything you and your new baby need to be healthy. Visit FSAstore.com for items like the Nanit Pro Complete Baby Monitoring System, Elvie double electric breast pump, or the Desitin Daily Defense Zinc Oxide Diaper Rash Cream, 16 oz.
- Premium skin care. Keep that healthy glow and fight dry skin, eczema and more with a wide variety of FSA eligible items, such as Eucerin Eczema Relief Body Cream, 8 oz., Gold Bond Ultimate Healing Skin Therapy Lotion, Aloe, 14 oz., Aveeno Restorative Skin Therapy Itch Relief Balm, 4 oz., and Jar of Aquaphor Healing Ointment, 14 oz.
- Acne products. Adolescents aren’t the only ones with acne. Fortunately, you can fight acne with FSA-eligible products like dpl IIa Professional Acne Treatment Light Therapy, Glytone Acne Treatment Mask, 3 oz., CeraVe Renewing SA Cleanser, 8 oz., and ReVive Light Therapy Essentials – Acne Treatment.
- Outdoor adventure. Don’t let allergies, sunburns, or injuries put the brakes on your love of the outdoors. Use your FSA to protect your health so the adventure never ends. Check out these top picks from FSAstore buyers: Spark Kinetic Knee Brace, Zyrtec tablets for the relief of allergies for adults, Insect bite thing, and Pack of two Coppertone sports sunscreen sprays.
- Joint and muscle pain. Whether you’re battling arthritis pain or recovering from a sports injury on the weekends, your FSA can help you relieve pain with products like Ultimate Foot Circulator with Remote Control, Intellinetix Vibrating Arthritis Gloves, KT Tape Recovery Ice / Heat Massage Ball, and the Aura Revroll Vibrating + Heat Foam Roller.
- Eye care. See clearly as you head into the New Year with articles like the Reading glasses Look Optic Abbey Blue-Light, CareTouch Lens Wipes, Systane ultra-lubricating eye drops, PureMoist Opti-Free disinfectant solution, a last minute eye exam, and more!
- High-tech health. If you are a technician at heart, use your FSA to manage your health with the latest high tech health devices. Explore devices like the Reliefband Nausea Relief – Premier, the Oska Pulse Pain Relief Device, or the CalmiGo – Smart Calming Companion. Want to know more about your background and your genetic makeup? Use your FSA funds to buy 23andMe Health Service test kits.
- Sunscreen. It doesn’t have to be 85 and sunny for the sun to damage your skin. Use your FSA to purchase sunscreen or sunscreen lip balm with SPF 15+ and aloe vera moisturizers to replenish and heal your skin after sun exposure. Buy on FSAstore.com the best brands like Super goup! Invisible Sunscreen, SPF 40, Daily Perfecting Moisturizer, SPF 30, Brush on Block Mineral Facial Sunscreen Powder, SPF 30, and Coola From Beach To Boardroom Tinted Mineral Liplux Trio, SPF 30.
âEvery year, consumers leave an estimated $ 500 million on the table due to a missed December 31 deadline, and we expect confiscations to far exceed that amount this year due to the confusion of deadlines and misperceptions, âsaid Preston Farrington, CEO of Health-E Commerce. . âConsumers shouldn’t assume that their deadline or renewal has been extended. In fact, it’s estimated that less than 50% of employers have proposed an extension that would allow 2021 funds to roll over or continue to be available for longer into 2022. So check your deadline today and spend those dollars. “
This consumer confusion was clear in a survey of 3,600 buyers on FSAstore.com in September and October. The survey showed that 50% of consumers are not sure they understand the recent FSA deadline and renewal changes, and 75% were not informed of their deadline or do not remember having been informed. More importantly, 37% said they had a higher balance this year than last year, which means they are more at risk of losing.
Use the “2021 FSA Deadline Spending Guide” for hassle-free shopping
FSAstore.com, part of the Health-E Commerce family of brands, only sells products deemed eligible for FSA reimbursement and offers handy tools, such as calculators and its new Deadline Alerts feature, to help individuals and families manage their health and their health budgets. the “Expenditure guide for the FSA 2021 deadline” facilitates on-time purchases for account holders. The guide features bundles of popular products for specific health needs, COVID-19 preparedness products, and everything you need to meet your daily health needs. FSAstore.com has account holders covered this deadline of 12/31 / with:
- Largest selection of FSA eligible products 100% guaranteed.
- 24/7 access to trusted FSA experts by phone, email or online chat
- The ability to use an FSA debit card and ignore paper claims
- Fast and free shipping on orders over $ 50
- The ability to place orders until midnight on December 31 and be assured that those purchases will be applied to FSA 2021 funds, not 2022.
FSAstore.com is spending flexibility without any guesswork. It’s both the largest online marketplace for FSA-only eligible products, and an educational resource that you can actually understand. The company’s mission is to help millions of FSA holders manage and use their accounts, and save on over 4,000 health care items using tax-free funds.
About SantÃ©-E Commerce
Health-E Commerce is the parent company of FSAstore.com, HSAstore.com and Well-deserved, a family of brands that serve over 60 million consumers with pre-tax health and wellness accounts. The company also created Caring Mill, a popular line of private label health products that benefits the Children’s Health Fund and allows customers to donate with every purchase. Since 2010, the company’s brands have led the direct-to-consumer e-commerce market for pre-tax health and wellness benefits. Health-E Commerce plays a critical role in expanding product eligibility into important new categories within the IRS-approved list of eligible medical expenses, such as sunscreen and breast pumps. The company is leading a panel of industry experts to promote the important national conversation about product safety and authenticity.
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