FSAstore.com launches "Know Your Balance Challenge" encouraging millions of FSA users to use -- not lose -- their remaining FSA funds before the 12/31 deadline

NEW YORK, Dec. 2, 2019 /PRNewswire-PRWeb/ -- More than $400 million dollars are forfeited in FSA funds to the use-it-or-lose-it rule each year at midnight on December 31. While many people spend their tax-free funds throughout the year, many more wait to the last-minute --- sometimes even right until the ball drops on New Year's Eve. In an effort to help account holders use -- not lose -- their funds this year, FSAstore.com is launching the "Know Your Balance Challenge" where three lucky winners will receive $880 from FSAstore.com to throw a New Year's Eve party.

FSAstore.com has long been committed to consumer education, having run the web's largest Learning Center dedicated to FSA account information, and has seen firsthand the power of education in reducing forfeiture. They believe the best way for consumers to avoid leaving hard-earned money on the table, is to know what's left in their account. The "Know Your Balance Challenge" urges Americans to do just that: check their FSA balance. To enter, anyone enrolled in an FSA can simply visit the entry page December 2 through December 22 and submit their email address and the amount of their FSA balance. The drawing will take place on December 23, 2019.

"The 'Know Your Balance Challenge' is all about encouraging FSA users to be aware of their FSA balance and create a spending plan for the end of 2019 so they don't leave hard-earned health care dollars on the table," said Jeremy Miller, founder and CEO of FSAstore.com. "FSAstore.com helps people spend down their account balance with zero guesswork. And by doing so early, they can enjoy the end-of-year festivities with one less to-do item, and maybe a little extra money in their pocket to help ring in 2020."

According to Miller, a single individual who earns the 2019 median income ($63,030) who elects the full contribution for 2019 ($2,700) should realize on average $880 in payroll tax savings from using an FSA this year. FSAstore.com is paying it forward by rewarding account holders for shopping early and realizing the maximum tax benefit from their accounts.

There's still time to beat the FSA deadline
FSAstore.com offers the web's largest selection of eligible products, fast and free shipping on orders over $50, 24/7 customer service, and accepts all FSA cards. Shoppers can also access a Savings Center for easy-to-use sales and discounts throughout December.

For account holders who still decide to wait until the last minute to spend down their account balance, FSAstore.com will accept 2019 deadline orders until midnight PST (3:00 a.m. EST) on December 31. The company guarantees that all orders will be processed against the 2019 FSA plan year. To learn more about the "use-it-or-lose-it" rule and tips for deadline shopping, visit http://www.fsastore.com.

About FSAstore.com
FSAstore.com is 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 FSA holders manage and use their accounts, and save on more than 4,000 health items using tax-free funds.

About Health-E Commerce
Health-E Commerce is the parent company of FSAstore.com, HSAstore.com and WellDeserved, a family of brands that serve the 60+ million consumers with pre-tax health and wellness accounts. The company has also created Caring Mill, a popular private-label line of health products that benefits Children's Health Fund and enables customers to make a donation with each 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 an essential role in expanding product eligibility for important new categories within the IRS-approved list of eligible medical expenses like sunscreen and breast pumps. The company leads a committee of industry experts to promote the important national conversation around product safety and authenticity.

SOURCE FSAstore.com