FSAstore.com reminds consumers - June 30th FSA Deadline approaches
Save on Thousands of Products such as Sunscreen and First Aid Kits
NEW YORK, NY--(June 19, 2014) - FSAstore.com, the only e-commerce site stocked exclusively with Flexible Spending Account (FSA) eligible products, wants to remind nearly 35 million FSA holders that they may have a June 30th deadline to use remaining funds. Some employer-sponsored FSAs have this plan-year deadline by which employees must use FSA funds to avoid losing them. Flexible Spending Accounts are employer-based plans that let consumers set aside pre-tax income on qualified healthcare products and medical services.
“By offering thousands of everyday products and seasonal items like sunscreen, along with tools and information to help customers better understand and use their account, FSAstore.com encourages smart health care spending habits. That means consumers spend wisely and are not left with sizable account balances at deadline time," said Jeremy Miller, FSAstore.com founder and president.
Ensure that you’re making good use of your pre-tax dollars before the deadline by shopping online at FSAstore.com, which offers a wide selection of everyday and seasonal products, including sun care bundles, first-aid kits, contact lens care, breast pumps, and thermometers.
Keep track of your FSA deadline and remaining dollars with these mid-year tips:
- Confirm your FSA deadline with your FSA administrator or Human Resources department. You may have a grace period to continue to spend down funds or a rollover of up to $500. Knowing your exact deadline will help you plan wisely and avoid losing your tax-free dollars.
- Check plan guidelines to learn what is covered and what steps are necessary for reimbursement. If you have a “qualifying event,” such as the birth of a child or a change in marital status, ask if you can change your FSA contribution.
- Consider contributing to both a health care FSA and a Dependent Care FSA, if applicable. A Dependent Care FSA can be used to pay for qualifying child care or elderly care pre-tax.
- Know your contribution limits, and calculate out-of-pocket expenses with an FSA Calculator. You can typically contribute up to $2,500 in an FSA, and some employers may also choose to contribute in excess of that $2,500.
- Reduce paperwork by using an FSA card, and save up to 40% by using your FSA funds at FSAstore.com.