FSAstore.com Reminds Consumers to Spend Down Flexible Spending Account Balances as Year-end Deadline Approaches

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The End of the Year is Coming: Know Plan Deadlines and Spend Down Remaining FSA Dollars

FSAstore.com, the one-stop shop for Flexible Spending Accounts.

FSAstore.com, the one-stop shop for Flexible Spending Accounts.

“Generally, people lose FSA funds because they don’t understand what expenses are eligible, and they miss their deadline."

As the year-end approaches, FSAstore.com reminds the nearly 35 million Americans enrolled in a Flexible Spending Account (FSA) to keep an eye on their accounts and spend down remaining funds before their deadline. For many people, that deadline could be December 31, and those who fail to spend their FSA funds before that deadline risk losing those dollars.

“As the year-end FSA deadline approaches, we want to help consumers maximize their health care savings, avoid losing their hard-earned health care dollars, and give them an easy and convenient health care purchasing experience,” said Jeremy Miller, CEO and founder of FSAstore.com. “Generally, people lose FSA funds because they don’t understand what expenses are eligible, and they miss their deadline. Our goal is to provide a simple solution, by giving consumer one-stop access to thousands of FSA-eligible products, and resources such as an Eligibility List and a consumer Learning Center that includes commonly asked questions, articles, videos and expert advice.”

In addition to lists of individual FSA-eligible products and services, FSAstore.com offers product Bundles, which feature similar products in one package. There are bundles available from $45-$400 that include only FSA-eligible products packages like a Baby Care Bundle, Family Essentials, Pain Relief and Travel Essentials.

According to Miller, FSA Bundles are an easy way to quickly spend down leftover FSA dollars on everyday medical essentials. Other ways that account holders can make the most of the FSA at year end include:

  • Keep track of deadlines. An FSA can feature a Carryover Option, a Grace Period or a Run-out Period option – or none of the above. To learn more about deadlines, watch this video. And check with your FSA administrator to see which of these deadline extensions may apply to your FSA plan.
  • Be a smart spender. Use available funds in your FSA to cover copays and deductibles, as well as eligible medical products purchased throughout the year. An FSA can cover a variety of common health care expenses, from contact lenses and glasses, to thermometers and first-aid kits.
  • Reduce paperwork. If your employer offers an FSA debit card, use this option to reduce paper claims when it comes to eligible products. When using an FSA debit card on FSAstore.com, you significantly reduce your chance of having to supply purchase documentation, as all products sold on the site are guaranteed to be FSA-eligible.

About FSAstore.com

As a 2016 Best Places to Work in New York City company and one of the 2016 Deloitte Fast 500™ Technology winners, FSAstore.com was founded to make it simple and convenient to spend, manage, and use an FSA. FSAstore.com is the only e-commerce site stocked exclusively with FSA eligible products, eliminating any and all guesswork as to what is and is not FSA eligible. In addition to the more than 4,500 eligible products available, the site offers educational resources for FSA holders, including the most comprehensive Eligibility List in the industry and a Learning Center with answers to the most common FSA questions. FSAstore.com accepts all FSA and major credit cards, offers 24/7 customer service, two-day turnaround for all orders and free shipping on orders $50+ in the continental U.S.

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Nicolette Orlemans
FSAstore.com
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