Anyone with a flexible spending account, or FSA, knows that if they don't use what's in their accounts before the
Unless an employer offers a deadline extension (typically to March 15), most
"An FSA can deliver valuable savings for individuals and families, but if funds aren't used by the plan deadline, that money can be forfeited back to the plan," says Rachel Rouleau, chief compliance officer for FSA Store. "The last thing HR teams want is to see employees leave their hard-earned healthcare dollars on the table, which is why education about deadlines and eligibility is so crucial."
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If HR hasn't made the FSA deadline clear, Rouleau recommends that employees check their FSA or benefits portal to confirm how long they have to spend whatever remains in their account.
As for how they should spend the money, Rouleau reminds FSA users that their money goes further than just doctor appointments. If the users have fulfilled their needed
"Most people are surprised to learn how much their FSA covers," says Rouleau. "From everyday healthcare supplies and medications to menstrual care products and first-aid supplies to high-tech health devices."
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