As 2020 wraps up, remaining FSA funds will need to be spent or they could be forfeited when the plan year ends. The FSA spend-down deadline depends on whether employers allow roll over options or a grace period, but it may be a safer bet to buy health products that will be necessary in the new year now rather than waiting for the clock to run out!
We did a little window shopping—virtually of course—and shared our top picks for the “12 Days of Savings” to give members a sense of the variety of eligible health products available at FSAstore.com. The health and wellness items featured in our 12 Days of Savings list are examples of some of the great products you can purchase to spend down any remaining FSA balance. And since everything listed on FSAstore.com is FSA-eligible, you don’t have to worry about checking the list twice!
The 12 Days of Savings infographic is a fun reminder for FSA members make the most of their tax-advantaged accounts while promoting health and wellness with products like:
These items are available for anyone with an FSA–or a health savings account (HSA) or health reimbursement arrangement (HRA) for that matter! The tax-advantaged account savings also apply to HSA account holders, as well as HRA account holders—depending on the type of HRA plan/plan design! The list focuses on FSA savings since those funds may not roll over into the new plan year and should be used sooner than later.
Getting health and wellness goodies with those untaxed dollars is a pretty great perk. To end the year on a merry note, share this 12 Days of Savings List to spread holiday cheer and keep plan members healthy and happy in the new year!