July Business Services
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Pollard & Associates
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Great Lakes Pension Associates, Inc.
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Retirement Planners and Administrators (RPA)
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Regional Sales Director (West) July Business Services
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Defined Contribution Account Manager Nova 401(k) Associates
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Retirement Solutions Specialists
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Fringe Benefit Group
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TPA Retirement Plan Consultant EPIC RPS (TPA/DPS)
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July Business Services
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Greenline Wealth Management
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Senior Specialist 401k Recordkeeping T Bank N.A.
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New York City District Council of Carpenters Benefit Funds
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Defined Contributions Compliance Consultant Loren D. Stark Company (LDSCO)
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Press Release New Year, New Deadlines: FSAstore.com Reminds Consumers to Be Aware of March 15 Grace Period Deadline |
Issued by FSAstore.com Feb. 8, 2021 |
Millions of consumers with a Grace Period deadline are still at risk of losing unspent flexible spending account (FSA) funds, despite 2020 legislative changes According to FSAstore.com, many FSAs are subject to a "use-it-or-lose-it" rule, which means any money left in the account by the plan year deadline (usually December 31) is lost by the employee. But thanks to the Consolidated Appropriations Act 2021, which was signed into law on December 27, 2020, employers now have an additional temporary, option to give employees some deadline relief by extending their plan year deadlines, if they choose.
"Several changes were introduced for FSAs in 2020, all with the intent of giving account holders additional flexibility in how they use their funds to protect their health and well-being," said Rida Wong, president of Health-E Commerce, the parent brand of FSAstore.com and HSAstore.com. "This has been essential as healthcare costs continue to rise. Our mission at Health-E Commerce is to ensure consumers get the maximum value from their tax-free healthcare dollars, and that starts with understanding how your account works and what's new each year." To learn more about FSA rules and changes, visit www.FSAstore.com/learn.
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View More Press Releases by FSAstore.com
Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink. |