From over-the-counter medications to high-end skincare products to high-tech wearables and telehealth services, FSA Store offers more than 2,500 exclusively eligible ways to spend FSA funds
DALLAS (February 27, 2024) – It’s estimated that more than 35 million people are enrolled in FSAs and, for most of them, the deadline to spend their tax-free funds for 2024 was December 31, 2024. However, approximately 36% of employers who offer an FSA also give their employees an FSA grace period deadline extension of March 15. This is the last chance for employees to spend remaining FSA funds from 2024 and avoid forfeiting those funds back to their employer. FSA Store, the first and leading online store that sells only FSA-eligible products and telehealth services, is sharing eligibility tips to help consumers use, not lose, their FSA funds to the upcoming March 15 grace period deadline.
“We estimate that the average American household spends $1,600 a year on healthcare purchases that are FSA eligible,” said Joseph Giordano, compliance manager for Health-E Commerce. “We encourage FSA users to think about everyday expenses – whether it’s a product or a telehealth experience, when using their FSA, to avoid forfeiting funds, because if you’re already paying for these expenses on a regular basis; why not realize the tax savings by using tax-free FSA funds.”
FSA Store, which is part of the Health-E Commerce® family of brands, recommends that account holders look at the following everyday healthcare expenses as an easy, convenient, and high-value way to spend remaining funds before March 15.
Skincare and sun protection. Skincare and sun protection are a top priority for consumers of all ages, all year long. By using tax-free funds on these everyday products, individuals can save all year long. Popular sunscreens, acne solutions and other skincare products from brands like CeraVe, EltaMD, and Supergoop! are all FSA eligible.
Chronic condition care. Living with a chronic condition is costly, but using FSA funds to purchase products and telehealth services can alleviate some of the financial strain for people with conditions like diabetes or hypertension. Fortunately, FSA funds can be used to purchase items like Accu-Chek test strips, KT Tape CGM Patches, One Touch testing supplies, blood pressure monitors, and for telehealth services from companies like Lofta (for sleep apnea) and Nectar (for allergies).
High-tech health devices. The popularity and range of high-tech health devices continues to soar. From wearables to home diagnostic devices to remote monitoring devices, FSA funds can be used to purchase a wide variety of high-demand health technology. Check out brands like Oura Ring, Dr Dennis Gross DRx SpectraLite™ FaceWare Pro and Arch Foot Massager Hub — Caring Mill™ by Aura, and more on FSA Store.
Childcare products. Whether you’ve just welcomed your first bundle of joy to the world or if you’re sending your pride and joy off to college, parents can use their tax-free FSA funds to protect the health of dependent children of all ages. From devices like baby health monitors from Nanit Products, Baby Skin Care products for diaper rash and eczema, portable breast pumps from Momcozy and Elvie or medicine cabinet essentials for college-aged dependents, FSA Store has your family health needs covered.
Telehealth services. Telehealth services are an effective, affordable and convenient way to receive healthcare from qualified professionals in the privacy of your own home. And thanks to FSA Store, engaging with telehealth services is easier than ever. Explore FSA Store’s telehealth section to access FSA-eligible virtual health services from more than a dozen leading companies, including ShedRx, Bilt Labs, and a specially curated selection of optical brands and products.
What is the FSA grace period?
A grace period is an optional deadline that an employer can choose to elect if their organization offers an FSA as part of their benefit plan. Consumers should check with their FSA administrator or HR department to confirm if they have a remaining prior year plan balance and if their employer offers a grace period extension.
How do I know what’s FSA eligible?
FSA eligibility rules are determined by the Internal Revenue Service (IRS) and Internal Revenue Code section 213(d). FSAs can be used for a wide variety of clinical services, including preventive exams, doctor visits, surgical procedures, dental care, vision care, and more. In addition, there are many surprisingly eligible ways to use these tax-free funds throughout the year. Explore the searchable eligibility list at FSA Store and spend applicable FSA funds before March 15, or learn more about the FSA grace period in our Learning Center.
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FSA Store is the ultimate destination for spending FSA funds before the March 15 grace period deadline. With over 2,500 exclusively FSA-eligible products and services, consumers can maximize their tax-free savings on everyday healthcare essentials, high-tech health devices, chronic condition care, telehealth services, and more. From top-rated skincare brands like CeraVe and Supergoop! to innovative health tech such as the Oura Ring and Dr. Dennis Gross DRx SpectraLite™ FaceWare Pro, FSA Store makes it easy to shop with confidence. Don’t let your hard-earned funds go to waste. Visit FSA Store to explore a wide range of eligible products and make the most of your FSA before time runs out.
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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.
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