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Account holders are more confused about deadlines and rollover this year than in recent years, and that means FSA holders are at risk of forfeiting even more than the average $500 million in FSA funds due to a missed deadline.

New survey data from Health-E Commerce shows that consumers are confused about temporary flexible spending account (FSA) deadline changes, and as a result, more than 30 million people who are enrolled in these accounts are at risk of forfeiting more unused funds to a missed deadline than ever before. To help consumers use, not lose, tax-free healthcare dollars, Y tế-Thương mại điện tử, parent brand of industry-leading online marketplace FSAstore.com, has launched a new Deadline Alerts feature that will automatically remind consumers of upcoming deadlines and send them valuable coupons for eligible healthcare items.

FSAstore.com, a leading online marketplace for FSA users, delivers a 100%-guaranteed eligible shopping experience that eliminates the guesswork from spending FSA funds. By signing up for deadline alerts, account holders will be notified of special promotions and new arrivals and receive a series of deadline alerts delivered via email that will countdown to their individual deadline.

FSAstore.com also features a comprehensive list of all FSA-eligible products and services, an extensive library of helpful articles and blogs about how FSAs work and the many ways to spend down funds, as well as account planning and management tools and calculators. And, to make open enrollment easier for employees and employers, Health-E Commerce also created an interactive Mở Hướng dẫn Đăng ký to help employees determine which account type is best for them and how much to contribute.

“Consumers come to FSAstore.com for convenience, guaranteed eligibility, support, and expertise so they don’t have to worry about losing valuable healthcare dollars,” said Rida Wong, president of Health-E Commerce. “Account holders are more confused about deadlines and rollover this year than in recent years, and that means FSA holders are at risk of forfeiting even more than the average $500 million in FSA funds due to a missed deadline.”

According to Wong, Health-E Commerce surveyed more than 3,600 shoppers to FSAstore.com in September and October, and found that consumers are unaware of, or not confident in, understanding their deadlines this year. More specifically:

  • 50% are not confident that they understand the deadline changes.
  • 76% haven’t been notified of their deadline or they don’t recall being notified, if they were. This number increased from 64% in early September, indicating a growing confusion among account holders.
  • 37% have higher balances this year than they did last year, which could mean more forfeited funds than ever before if consumers aren’t educated properly.

Increased deadline confusion is being fueled by temporary thay đổi enacted in 2020 by Congress that affected FSA deadlines and carry over rules. As a result of COVID-19, the Consolidated Appropriations Act of 2021 gave employers the choice to change or temporarily extend the FSA spending deadline. Employers were also given the option to allow employees to carry over their entire unused account balance to the upcoming plan year. Because FSAs are an employer-sponsored account, each company can have different deadlines and set rules that meet their needs.

“While deadline extensions gave consumers and account holders more flexibility and more time to spend down account funds, which was important when COVID-19 made in-person healthcare more difficult, account holders are largely unaware of whether their deadline has changed and what funds may still be available to them,” said Wong. “This, coupled with higher account balances than last year due to expanded rollover options, will make easy access to a wide variety of meaningful ways to spend FSA funds more important than ever.”

To learn more or to view additional employee tools and educational content, visit Cửa hàng FSA or Y tế-Thương mại điện tử.

Giới thiệu về Y tế-Thương mại Điện tử

Y tế-Thương mại điện tử là công ty mẹ của Cửa hàng FSA, cửa hàng HSACũng xứng đáng, một nhóm thương hiệu phục vụ hơn 70 triệu người tiêu dùng có tài khoản sức khỏe và sức khỏe trước thuế. Công ty cũng đã tạo ra Nhà máy chăm sóc, một dòng sản phẩm sức khỏe có nhãn hiệu riêng phổ biến mang lại lợi ích Quỹ sức khỏe trẻ em và cho phép khách hàng đóng góp cho mỗi lần mua hàng. Kể từ năm 2010, các thương hiệu của công ty đã dẫn đầu thị trường thương mại điện tử trực tiếp đến người tiêu dùng vì lợi ích sức khỏe và sức khỏe trước thuế. Y tế-Thương mại điện tử đóng một vai trò thiết yếu trong việc mở rộng tính đủ điều kiện của sản phẩm cho các danh mục mới quan trọng trong danh sách chi phí y tế đủ điều kiện được IRS phê duyệt như thuốc không kê đơn, sản phẩm chăm sóc phụ nữ, kem chống nắng và máy hút sữa.

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Source: https://www.prweb.com/releases/health_e_commerce_launches_deadline_alerts_to_help_millions_with_flexible_spending_accounts_fsas_use_not_lose_tax_free_healthcare_dollars_before_december_31_2021/prweb18309425.htm

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