Detailed Data Could Save Customers Billions in FSA Funds for Healthcare
It is estimated that every year, $4 billion is lost from flexible spending accounts when the “use it or lose it” feature goes into effect. This is something that affects both consumers and the healthcare industry, with patients rushing to determine what is eligible as they work to allocate their monies to pay for healthcare expenses. In addition to the last-minute rush, the confusion also increases at the register, where patients must ensure their healthcare spending is well allocated between their credit and debit cards and their flexible spending accounts. In a recent interview, Alpesh Chokshi of Banyan revealed that…