Are your employees aware they have less than a week to use up the remainder of their flexible spending account (FSA) funds? If not, now is the time to let them know.
While a majority of people enrolled in FSAs had a deadline of December 31, 2024, over a third of enrollees get an employer-provided grace period; they have until March 15 to spend what’s left in their account. However, there’s a good chance workers won’t remember they’re about to leave money on the table. In fact, 44% of account holders lose an average of $370 per year, according to the Employee Benefit Research Institute.
