FSAs cover thousands of medical products and services, and FSAstore.com is the only website featuring 100% guaranteed FSA-eligible products.
NEW YORK (PRWEB) March 01, 2018
FSAstore.com, the only e-commerce site stocked with the largest selection of guaranteed FSA-eligible products, with zero guesswork, reminds FSA users that the March 15 grace period deadline is just around the corner. For people with deadline extensions past the traditional December 31 deadline, this is their last chance to spend remaining 2017 flex dollars before they become subject to the "use it or lose it" rule.
The FSA Grace Period: Explained
Flexible spending accounts made their debut in the late 1970s as employer-sponsored, self-funded healthcare accounts to help ease out-of-pocket healthcare costs for individuals and families. As tax-advantaged accounts created by the Internal Revenue Service (IRS), FSAs were created with a "use it or lose it" rule. After choosing how much to set aside for the current plan year, employees have one year to spend those funds in full before they are forfeited to their employers.
Although this created a love-hate relationship for FSA among working professionals, a series of tax regulations — including the grace period — have made FSAs more flexible and user-friendly.
Introduced in 2005, the grace period gives FSA users an additional 2.5 months to spend their yearly allocations and avoid losing their hard-earned money. Employers determine whether or not they will offer a grace period, so not every FSA user has it. Individuals who do have access to a grace period can benefit from the following tips.
Your FSA grace period shopping guide
FSAs cover thousands of medical products and services, and FSAstore.com is the only website featuring 100% guaranteed FSA-eligible products. FSAstore.com can also help consumers understand how to spend their account dollars to best meet their individual and family health needs. Here are a few ideas of how to spend those remaining funds before the grace period deadline:
Stop seasonal sniffles with cold and allergy products
Allergy season is coming, so if you or a family member experiences seasonal sniffles, sneezing and watery eyes, your FSA can provide relief. FSAstore.com offers an easy Prescription Process to purchase over-the-counter allergy medicines (which require an Rx in accordance with IRS rules) and items like steam inhalers, saline sprays and wipes, and many others that don’t need a prescription
Shape up for 2018
Still sticking to your New Year's resolution to get in shape? Your FSA can help you stay the course and bounce back from sprains and workout soreness. FSA-eligible TENS machines, hot/cold packs, elastic bandages, braces and more can be purchased with remaining FSA funds.
Get a new perspective with hi-tech health products
Did you end 2017 with more FSA funds than you expected? If so, consider choosing from our wide range of FSA-eligible, hi-tech health products like smartphone-compatible thermometers and blood pressure monitors, drug-free pain relief systems, light therapy devices for acne and arthritis pain, and more.
Plan ahead with FSA Bundles
FSA Bundles are like care packages for all of your needs to fit any FSA budget. Whether you're looking for products to tackle family health needs or want to have the right amount of sunscreen before your next vacation, FSA bundles make spending remaining dollars both quick and convenient.
To learn more about your FSA, see what’s eligible, and understand how to plan and manage your FSA for a healthy future, visit FSAstore.com’s all-new Learning Center.
FSAstore.com is everything flex spending with zero guesswork. It’s both the largest online marketplace for guaranteed FSA-eligible products and an educational resource that you can actually understand. It’s the company’s mission to help millions of flexible spending account holders manage and use their FSAs and save on more than 4,000 health items using tax-free health money.