More than 35 million people are enrolled in FSAs and 37% have a grace period deadline, which allows most to spend unused 2023 funds by March 15, 2024, to avoid forfeiture.
DALLAS, March 11, 2024 /PRNewswire-PRWeb/ -- Spring is the perfect time to refresh and reorganize, and that includes the family medicine cabinet. And for millions of people who are enrolled in flexible spending accounts (FSAs), spring also means the March 15 FSA grace period deadline is here. It's estimated that 37% of FSA users have a grace period deadline (according to a survey by VISA), but many are unaware of this key date and may risk forfeiting unused funds. FSA Store®, the first and leading online store that sells only FSA-eligible items, is educating consumers about this deadline by sharing the Top 10 spring FSA purchases.
Top 10 most popular spring FSA purchases:
- Aura Pulse Comprehensive Health Tracker: This health tracker is designed to highlight and alert you for changes in your heart rate, SPO2 fitness, and sleep health.
- Navage Saline Nasal Irrigation Deluxe Kit: Navage provides fast, all-natural relief from allergy and sinus symptoms using a gentle powered suction. Breathe easier with drug-free nasal relief.
- Welly Bravery Badges Glow in the Dark Bandages: Welly assorted flex fabric bandages will protect the minor cuts and scrapes that little ones encounter, while promoting healing.
- Sleek Callus Corn and Ingrown Toe Nail Remover – Caring Mill by Aura™: This podiatry tool is designed for home use. Treat Ingrown toenails, calluses, and corns and achieve flawless results in the comfort of your own home.
- Zyrtec Adult Allergy Relief Tablets: Zyrtec Allergy Tablets provide 24-hour prescription-strength relief for your worst allergy symptoms, effectively treating indoor and outdoor allergies caused by dust, mold, pet dander, tree pollen, weeds, and grasses.
- Supergoop! Bundle: Protect even the most sensitive skin from damaging UVA and UVB sun rays, and harmful blue light, with Supergoop! value bundle. This convenient set of invisible formula solutions will protect your face, lips, and eye area.
- Lumify Redness Reliever Eye Drops: These eye drops help significantly relieve redness of the eye due to minor eye irritations. These revolutionary drops work differently to selectively target redness with a lower risk of potential side effects.
- Mighty Patch Original Patches: These patches visibly shrink whiteheads overnight with a natural fluid-absorbing gel pad that gently extracts from inside the pimple. Just stick it on at bedtime and wake up with clearer skin.
- Acne Light Therapy Bundle: Light therapy is an easy and safe way to treat and prevent acne. This bundle includes medical-grade light therapy products and multiple devices to promote healthy skin.
- Gassy Belly Rub by Frida Baby: When baby is fussy, try a belly massage with this belly rub to get things moving. Just rub on, massage in and get the gas flowing
Grace period deadline reminders:
What is the FSA grace period? The flexible spending account (FSA) grace period is an optional deadline extension an employer can choose to offer that allows employees to incur new expenses against prior year FSA funds. The grace period is 2.5 months after the end of their plan year. For example, someone with a December 31, 2023 FSA deadline and a grace period would have until March 15, 2024 to spend down remaining funds from their 2023 FSA. While not all FSAs run on a calendar year, the grace period is always 2.5 months after the plan year end date.
What is an eligible FSA expense? FSA eligibility rules are determined by the Internal Revenue Service (IRS) and Internal Revenue Code section 213(d). FSAs can be used for several services and products, including exams, clinical services, doctor visits, surgical procedures, dental care, vision care and more. To learn more about eligible products, visit the searchable eligibility list at FSA Store.
For more information about FSAs and the FSA grace period deadline, visit FSAStore.com and the FSA Learning Center.
About Health-E Commerce
Health-E Commerce® is the parent brand to FSA Store and HSA Store®, online stores that serve the 70+ million consumers enrolled in pre-tax health and wellness accounts. The company also created Caring Mill™, a popular private-label line of health products through which a portion of every purchase is donated to the Children's Health Fund. Since 2010, the Health-E Commerce brands have led the direct-to-consumer e-commerce market for exclusively pre-tax health and wellness benefits. Health-E Commerce plays an essential role in expanding product eligibility for important new categories within the list of eligible medical expenses.
Media Contact
Barbara Tabor, FSA Store, 6512309192, [email protected], www.FSAstore.com
SOURCE FSA Store
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