March 15 Grace Period provides final opportunity to use 2014 FSA dollars
For Some Flexible Spending Account (FSA) Holders, The March 15 Grace Period Provides A Final Opportunity to Use Remaining 2014 FSA Dollars
FSAstore.com Carries Thousands of FSA Eligible Products and Accepts FSA Cards
New York, NY (PRWEB) January 27, 2015 -FSAstore.com, the only e-commerce site exclusively stocked with Flexible Spending Account (FSA) eligible products, is reminding the nearly 35 million Americans covered by an FSA that they may have a Grace Period to use their remaining 2014 funds. For FSA plans that ended Dec. 31, 2014, the Grace Period deadline is March 15, 2015. The Grace Period provides a last chance to maximize FSA funds and avoid forfeiting leftover money.
While a change to FSAs introduced a Carryover (employers can now offer their employees an option to carry over up to $500 in FSA funds to the next plan year), many FSA plans continue to have a Grace Period, which is a two-and-a-half-month extension to use FSA money from the prior year.
FSA plans cannot have both a Carryover and a Grace Period. FSAstore.com urges consumers to contact their FSA administrators to find out if they have a deadline extension. FSAs let individuals contribute pre-tax money for qualified medical expenses including over-the-counter items, dental and eye care, and medical services not covered by health insurance. Consumers can browse FSAstore.com'sFSA Eligibility Listto search and sort through products and services covered by Flexible Spending Accounts, Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), Limited FSAs and Dependent Care FSAs.
"Around deadline times, we reduce confusion about product eligibility that consumers often face at a drugstore when they're trying to deplete their accounts. Consumers need clarity, education and easy access to eligible expenses to fully maximize their accounts," said Jeremy Miller, FSAstore.com founder and president. "The March 15 Grace Period is the last chance some FSA holders have to use their remaining funds, or risk losing their hard-earned money."
FSAstore.com is the only e-commerce site exclusively stocked with FSA eligible products - eliminating the guesswork behind what is reimbursable by an FSA. Consumers with Flexible Spending Accounts can access thousands of FSA eligible products, and access much-needed information through the FSA Eligibility List and FSA Learning Center. FSAstore.com accepts all FSA and major credit cards, offers 24/7 customer service, one-to-two-day turnaround for all orders, and free shipping on orders $50+.