PYMNTS.com September 9, 2024
Call it the $4 billion year-end problem, plaguing consumers and the healthcare industry like clockwork.
That’s the amount of money that disappears from flexible spending accounts (FSAs) every year as the “use it or lose it” feature of FSAs kicks in.
There’s a rush as patients figure out what’s eligible, and it’s a conundrum that individuals and households face when deciding how to allocate their pre-tax dollars to pay for their own and their dependents’ healthcare expenses. They’ve funded the accounts, and the hard part is spending that money the right way.
The confusion is compounded at the register, where patients must be careful to put their healthcare spending into buckets — using their FSA accounts for some items, and...
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