Each Year Consumers Forfeit Millions of Dollars in Spending Coverage That Can Be Used to Purchase Thousands of Health Products Including Sunscreen, Bandages, and Breast Pumps
NEW YORK, NY–(Marketwired – Jun 28, 2013) – FSAstore.com, the only e-commerce site stocked exclusively with Flexible Spending Account (FSA) and Health Savings Account (HSA) eligible products and services, is reminding consumers with an FSA that they can make immediate purchases of a wide range of health products online. Online shopping for FSA-covered products available at FSAstore.com can help consumers avoid forfeiting FSA funds that might expire with an approaching plan deadline on June 30. Flexible Spending Accounts are employer-based programs that allow participants to use tax-free income on eligible healthcare products and medical services.
Many companies and institutions that are on fiscal years ending on June 30th might have a deadline to spend their FSA funds by that date. Any funds not used are forfeited if there is no Grace Period offered. Each year, consumers forfeit hundreds of millions of dollars that can be used to purchase essential health products because they do not deplete the funds available in their FSA account by their respective deadline.
Consumers may not realize that FSA and HSA funds can be used to purchase a wide range of health products including sunscreen. According to the Skin Cancer Foundation, there are nearly two million cases of skin cancer each year. Sunscreen is considered an FSA-eligible expense when it has at least SPF 15 and protects against both ultraviolet B (UVB) radiation and ultraviolet A (UVA) radiation. Unlike some other OTC products, sunscreen does not require a prescription for reimbursement. FSAstore.com offers a wide selection of brand-name sun care products including Aveeno, BabyGanics, BananaBoat, Coppertone, L’Oreal, Nature’s Gate and Neutrogena. In addition to sunscreen, FSA plans make it possible for consumers to buy thousands of different products including bandages, breast pumps, and thermometers.
“Sunscreen is just one of the many products that people do not realize they can purchase instantly and easily online using FSA spending accounts. Sunscreen is a fairly new addition to the eligible products list,” said Azar Gurbanov, FSAstore.com’s chief operating officer. “Since FSAstore.com only carries eligible items, there is never confusion about product eligibility — and even last minute shoppers can make sure that they use all of the funding that is available to them through their FSA accounts.”
FSAstore.com is the only one-stop-shop exclusively stocked with FSA eligible products – eliminating the guesswork behind what is reimbursable by an FSA. Consumers with flexible spending accounts can access thousands of high quality FSA eligible products, in addition to FSA eligible services, and much-needed information through the FSA Learning Center. FSAstore.com accepts all FSA and major credit cards, offers 24/7 customer service, one-to-two-day turnaround for all orders, and free shipping on orders $50+. There is no need to submit receipts for products purchased with an FSA or HSA card.