Five Tips for the June 30 FSA Deadline

FSAstore.com, the only e-commerce site stocked exclusively with Flexible Spending Account (FSA) eligible products, reminds nearly 35 million FSA holders that they may have a June 30 deadline to use remaining dollars. This deadline does not apply to all FSA accounts, but employees are urged to check remaining balances with their FSA administrator. FSAs allow consumers to set aside tax-free income for qualifying healthcare products and medical services.

Using a Flexible Spending Account can sometimes be confusing, but it shouldn't be. At FSAstore.com, you can shop for everyday products that are all guaranteed to be FSA eligible, so there’s no guesswork when using your account.

People may be surprised to learn that they can use their FSA to shop for everyday health products they’re already buying, like sunscreen, first-aid kits, and hot/cold therapy packs. In addition to products, they can access resources like the FSA Eligibility List and a Learning Center full of helpful articles to help them better understand what's covered by their FSA.

Even if you do not have an FSA deadline on June 30, the mid-year mark is a good time to check in on your FSA balance and other spending deadlines for the plan year.

Use remaining FSA dollars or make the most of your FSA through these helpful tips:

Check your remaining FSA balance. Ask your FSA administrator or Human Resources department about leftover funds. Knowing your exact plan-year deadline also allows you to avoid losing your tax-free dollars.
Understand plan eligibility. Ask about plan guidelines to learn what is covered for seamless reimbursement.
Check in on qualifying events. Normally, you can only elect contributions into your FSA during an annual open enrollment period, but there are exceptions. If you experience a “qualifying event," such as the birth of a child or a change in marital status, ask if you can change the amount you contribute to your FSA.
Keep track of different FSAs, if applicable. A Dependent Care FSA can be used to pay for qualifying child care on a pre-tax basis, while a healthcare FSA can cover qualifying medical expenses for you and your family (spouse and dependent children through the age of 26).
Use an FSA card. Reduce paperwork for reimbursement by using an FSA card, and save up to 30 percent in income tax savings when you use your FSA to shop for health products and services.

About FSAstore.com

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 guesswork when using your FSA to buy qualified health essentials. In addition to the 2,500+ 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, and free shipping on orders $50+.

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