10 Days, 10 Ways To Spend Flexible Spending Account Dollars, Before They’re Gone For Good

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

“Every 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, ”said Preston Farrington, CEO of Health-E Commerce. . “Consumers 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.

About FSAstore.com

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 Santé-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.

For the original version on PRWeb visit: https://www.prweb.com/releases/10_days_10_ways_to_spend_flexible_spending_account_dollars_before_they_re_gone_for_good/prweb18403126.htm

About Sally Dominguez

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