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Consumers are collectively at risk to forfeit $3 billion in unused FSA funds to the December 31 use-it-or-lose-it deadline; spending tips and November sales from FSA Store help consumers use, not lose, funds

DALLAS, Nov. 18, 2024 /PRNewswire-PRWeb/ -- The winter holiday season can be a happy time, as friends, family, and communities come together to celebrate, but all those celebrations can make it difficult to manage physical and mental health, maintain healthy habits, and avoid illness. In fact, nearly of adults in America say their physical and mental health declines in the final months of the year. And for almost half of these individuals, financial stress is a primary contributor to this decline. Fortunately, tax-free flexible spending accounts (FSAs) can ease the strain of the holidays by allowing consumers to purchase eligible products and services that support good health, without chipping away at their disposable income. ®, the first and leading online store dedicated exclusively to selling FSA-eligible products and services, is sharing five ways FSA users can spend their remaining 2024 funds during the holiday season, and offering special savings during the month of November.

"As the holiday season kicks off, it's important that we take extra steps to protect our health and spend our dollars wisely, and tax-free FSA funds are a perfect way to achieve these goals," said Keri Kaiser, chief revenue officer for Health-E Commerce, parent brand to FSA Store and HSA Store®. "By using FSA funds to purchase everyday essentials or services that support physical and mental health at FSA Store, consumers can save money, enjoy time savings and convenience, and benefit from our FSA deadline resources and live customer support – all while sticking to their health goals."

Five FSA-eligible expenses that can support better health during the holidays:
1. FSA-eligible telehealth services. Now through December 31, save on select FSA-eligible telehealth services that can contribute to better health during the holidays and in the new year. Visit FSA Store to learn about special savings on , , , , and .
2. Over-the-counter headache and tension relief. In addition to online therapy services from BetterHelp, account holders can use tax-free funds to purchase products that relieve headaches, eye tension, and back and neck pain that can be triggered by stress or anxiety. Find products like , , , , and at FSA Store.
3. Drug-free pain relief products. Living with pain can contribute to poor mental health and limit our physical mobility, all of which can put a damper on holiday activities. Use FSA funds to purchase drug-free pain relief products like custom orthotic insoles, the , , , , , and more.
4. Winter travel necessities. Whether you're going over the river and through the woods or jetting across the country, an FSA can help manage motion sickness and dehydration with products like , , , and the . And don't forget and to ensure you're covered with personal medications and first aid essentials.
5. Virus preparedness and treatment products. If you come home with more than a full belly after holiday gatherings this year, use your FSA to purchase home diagnostic products like the and . Then treat your symptoms with FSA-eligible items like , , , and .

Special savings opportunities at FSAstore.com:

• Early Black Friday: From November 18 - 22, receive $40 off orders of $300 or more sitewide when you use code: EARLYBF. *Apply code at the checkout. Exclusions apply. See terms for details. Offer ends 11/23/24 at 5:59 a.m. ET.
• Black Friday: From November 26-30, save 50% on select items at FSA Store and HSA Store. Visit for deals on products like , , , and more. HSA shoppers can visit to save on products like: , , , and .

What is the FSA deadline and why does it matter? The December 31 use-it-or-lose-it deadline is the date by which the majority of FSA users must spend remaining funds to avoid forfeiture (the loss of unused funds). Proprietary data from FSA Store indicates that nearly 70% of account holders have a December 31 deadline. Meanwhile, industry estimates show that FSA users forfeit an average of each year by missing this deadline.

Important Deadline Reminders. In addition to understanding how FSA funds can be used, consumers should understand and remember these deadline facts in the coming weeks:

• While December 31 is the most common spending deadline for FSAs, this deadline can vary based on an organization's plan year. Account holders should log in to their FSA portal, if available, to verify their deadline, or check with their employer or FSA administrator.
• An employer may offer an FSA deadline extension, such as a partial rollover of unused funds; a grace period (2.5 months after your plan year end date; typically March 15); and/or a run-out period. These extensions are completely optional. Check on your FSA portal or with your employer, your benefits team, or FSA administrator to confirm availability of these options.

To help account holders avoid potential FSA forfeitures, FSA Store offers FSA deadline , , information, and 24/7/365 FSA-trained customer service support. Visit FSAstore.com to learn more and make the most of FSA funds before time runs out.

About Health-E Commerce
is the parent brand to and , online stores that serve the 70+ million consumers enrolled in pre-tax health and wellness accounts. The company also created â„¢, a popular private-label line of health products through which a portion of every purchase is donated to the . 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.

Media Contact

Barbara Tabor, FSA Store, 651-230-9192, [email protected], FSAStore.com

SOURCE FSA Store; FSA Store