"Use it or Lose it" Flexible Spending Accounts
Let's talk about Flexible Spending Accounts. FSA is a "use it or lose it" type savings account that gets paired with copay style medical plans, and as usually sponsored through your employer. The Flexible Spending Account limit for 2021 is $2,750. If you are a high Flexible Spending Account utilizer, you might have maxed out your FSA contribution during your open enrollment period.
I'm here to let you know that if you do have an overage in that FSA account, there are some easy solutions that you can utilize to help spend that money so that you don't end up losing it. Have you ever gone on to Amazon and searched Flexible Spending Account? From there you can find suppliers that will utilize your FSA for purchases like feminine products, sunscreen, thermometers, weight management, supplies, and many more items.
In 2021, there were many different updates to the Flexible Spending Account item options, so you do have a lot more flexibility. I'm Niki Trentacosta, President of The Tanna Group, I help small businesses shop for and administer their employee benefits programs. I'd love to help you or your employer with your health, dental, vision or other insurance needs. I can be reached at thetannagroup.com and on social media platforms such as Facebook, YouTube, LinkedIn and Twitter. Again, I look forward to talking to you, and until we do speak, I hope that you stay happy, stay healthy, and be sure to wash your hands. Bye.