Help me spend FSA $ in 7 days

[09Mom]

We've got over 3k in our flex spending account and have until March 8 to spend it. DH was going to have lasik, but at his consultation found out he needs emergency surgery for detached retinas. Since it is not elective surgery most of it is covered by insurance. After deductable and co-pays for the surgery we will still have about 2200+. Any thoughts? We want to stay within the defines of the IRS.

[kellij]

Do you guys wear glasses? Lots of glasses; including sunglasses. I'd print out the list and go medicine shopping and then load up. You can buy contact lens solution if you wear contacts, and contacts too. Also, things like band-aids qualify.

[ThreeofUs]

Glasses, Contacts and contact care
First-aid kits for house, cars, etc.
Allergy and sinus meds

...

go down the list at

http://www.wageworks.com/employee/health-care/expenses/fsa.htm

[sste]

I don't think OTC are covered any more. You need to check with your plan. What mine did was to say that we had until March to use our money *but* we could not be reimbursed for OTC stuff after January (even though the money was "from" 2010 before the elimination of the OTC stuff).

[sewarsh]

GLASSES! Rx sunglasses and eye glasses. that's what we did. Oh, and contact solution. Have enough to last us over a year!

[ett]

sunscreen, humidifier.

[lowrioh]

Humidifiers and Air Purifiers can qualify if you get a note from your doctor. Most peds will write them.

[HIU8]

glasses, prescription sunglasses, contacts would be the first thing I would spend on.

[tabegle]

Here's a good list detailing what will work in 2011 and what will not.

http://www.cigna.com/our_plans/medical/fsa/fsa_health.html


Can YOU have the laser eye surgery instead of your hubby?

Additionally, if the employer allows, the amount contributed to the FSA may be changed throughout the year if you meet a life changing event (i.e. you or him lose a job or insurance.) I'd make a life change event, even if temporarily getting a part time job and then quitting.

[09Mom]

Here's a good list detailing what will work in 2011 and what will not.

http://www.cigna.com/our_plans/medical/fsa/fsa_health.html


Can YOU have the laser eye surgery instead of your hubby?

Do you know when the list was updated? I see it takes in to account OTC drugs, but I think you can now do a breast pump and accessories and this list says no.

I don't even wear glasses, so I'm thinking I wouldn't be a candidate, but I do know my eyes are worse at night than they used to be so maybe I will look in to glasses for me.

[babyonway]

are you planning on having other kids? If so would you breast feed them? can you get a pump?

[09Mom]

are you planning on having other kids? If so would you breast feed them? can you get a pump?

We'd like to, and I would be interested in a Freestyle this time. It's somewhat pushing the envelope since I am not pregnant at this point in time, but I don't see any documentation that says you need to be able to use it now...

[tabegle]

Do you know when the list was updated? I see it takes in to account OTC drugs, but I think you can now do a breast pump and accessories and this list says no.

I don't even wear glasses, so I'm thinking I wouldn't be a candidate, but I do know my eyes are worse at night than they used to be so maybe I will look in to glasses for me.

Yeah, I know the breast pump thing only changed in the last month, and I don't think there have been specific guidelines provided around that. Before putting any large outlying of money, I recommend contacting the administer of the FSA plan to be sure you will get reimbursed. And no, I'm sorry I don't know when that list was updated but is does specify items that you would need a dr's note for 2011 reimbursable items.

I say go the route of "finding" a qualifying life change event so you can change the amount being contributed to the plan asap. Good luck!

[ett]

condoms, pregnancy tests

There have been a lot of changes to what's covered by FSA starting this year, so I would check with you plan's administrator just to make sure things you're getting are covered. OTC drugs can still be covered if you get the doctor to write a prescription. If you want to get glasses for yourself, you need to see an optometrist to get an RX and that can be covered by FSA is you don't have vision insurance.

[09Mom]

I say go the route of "finding" a qualifying life change event so you can change the amount being contributed to the plan asap. Good luck!

DH's last day of employment with current company is March 8, so that's why we have to use it by then. We can do a new FSA with his new company, but I'm thinking we won't put that much, if any, money in to it...

[lowrioh]

I'm assuming that you are talking about money left in your 2010 FSA not your 2011 one?
You would need to follow the 2010 guidelines and coming up with a life event at this stage wouldn't help.

[09Mom]

I'm assuming that you are talking about money left in your 2010 FSA not your 2011 one?
You would need to follow the 2010 guidelines and coming up with a life event at this stage wouldn't help.

Nope, it's 2011 money. It got fully funded for the year on Jan 1, but because DH is changing jobs we have until last day of emplyment, even though we have until end of month for actual insurance. Very confusing.

[minnie-zb]

Nope, it's 2011 money. It got fully funded for the year on Jan 1, but because DH is changing jobs we have until last day of emplyment, even though we have until end of month for actual insurance. Very confusing.

Are you sure the $3K is there? Typically they withdraw the amount each paycheck until about the end of October. You can pre-spend the money, but you still have to pay it in.

[swissair81]

Do you know when the list was updated? I see it takes in to account OTC drugs, but I think you can now do a breast pump and accessories and this list says no.

I don't even wear glasses, so I'm thinking I wouldn't be a candidate, but I do know my eyes are worse at night than they used to be so maybe I will look in to glasses for me.

The IRS recently reincluded breastpumps as approved spending.

[Penny's Pappa]

Nope, it's 2011 money. It got fully funded for the year on Jan 1, but because DH is changing jobs we have until last day of emplyment, even though we have until end of month for actual insurance. Very confusing.


Are you sure the $3K is there? Typically they withdraw the amount each paycheck until about the end of October. You can pre-spend the money, but you still have to pay it in.

:yeahthat:

FSAs are fully funded on Jan 1, but employee contributions are spread out over the whole year. I'm just afraid that if you spend the full $3K, his employer might hit him up for the difference once his employment is over. If that's so, then I would only spend what he has actually contributed to the FSA at this point.

[09Mom]

:yeahthat:

FSAs are fully funded on Jan 1, but employee contributions are spread out over the whole year. I'm just afraid that if you spend the full $3K, his employer might hit him up for the difference once his employment is over. If that's so, then I would only spend what he has actually contributed to the FSA at this point.

According to the statements online it is currently fully funded. From what I've read there is a known risk on employee and employer side...the employee can lose it if they don't use it and the employer's risk is the employee leaves before it is fully funded.

[JElaineB]

Here is the eligibility list that our work uses, it is the site for federal employees: https://www.fsafeds.com/fsafeds/EligibleExpenses.asp. As far as I can tell it is up to date. Note that medical supplies like band-aids are still eligible while OTC medications are not without a prescription (and the prescription needs to be for a specific person for a specific amount of time, you can't buy a giant bottle of Advil even with a prescription).

[minnie-zb]

According to the statements online it is currently fully funded. From what I've read there is a known risk on employee and employer side...the employee can lose it if they don't use it and the employer's risk is the employee leaves before it is fully funded.

It is fully funded, but not with money you and your husband have contributed. If you use all of the 3K now, they will expect you to repay the money. I know I sound like I'm arguing, but I don't want you to get a bill for $3K! That would be depressing.

[tabegle]

According to the statements online it is currently fully funded. From what I've read there is a known risk on employee and employer side...the employee can lose it if they don't use it and the employer's risk is the employee leaves before it is fully funded.

Based on the above, I don't think your DH has fully paid into it for 2011. Can you double check his pay stubs where it should show a breakdown of how much has gone into the FSA account for 2011? If there really is $3000 in it, his pay stubs should reflect that.

[09Mom]

I found this article. Like I said before, I want to stay within the defines of the IRS, but also get as much out of his current employer as we can.

http://money.cnn.com/2010/10/27/pf/saving/flexible_spending_account_benefits/index.htm

[minnie-zb]

According to that piece, yes, you are right. I would still want verification that they couldn't come after me for the balance.

The ethics of it would be a problem for me personally, but everyone is different.

[ett]

According to that piece, yes, you are right. I would still want verification that they couldn't come after me for the balance.

The ethics of it would be a problem for me personally, but everyone is different.

:yeahthat: I would still definitely check with your insurance company. I also thought that while it is fully funded and you can spend it all on Jan. 1, you would have to repay part of it if you leave the company mid-year.

[happyturtles]

You could also do custom foot orthotics. Even if you don't have acute foot pain, but if you have bunions or hammertoes or flat feet; the orthotics do help.

[ett]

I found this article. Like I said before, I want to stay within the defines of the IRS, but also get as much out of his current employer as we can.

http://money.cnn.com/2010/10/27/pf/saving/flexible_spending_account_benefits/index.htm

Is there an official document that states this? If the company asks you later to repay part of it, what someone says on the CNN site without siting any actually documentation is not going to be worth anything.

[Kindra178]

Regular sunglasses should work too.

[mommylamb]

I have always been under the impression that you do NOT have to repay the money if you use it all and then leave. It differs from a dependent care account, in which money is only available once deposited into the account from your paycheck.

I don't think there's anything unethical about using the money. That's the way these accounts work. If you don't use it, you lose it. So, it's a fair trade off IMO.

[jenfromnj]

Not sure about the issue of using/funding, but if you need to spend over $2K in a week, can you get a year's supply of whatever Rx you have (BCP, DCs vitamins or otherwise)? Even for 2011, it looks as though you can buy OTCs if you get a prescription from your doctor, would that be an option?

[egoldber]

:yeahthat:

We buy OTC Zyrtec for older DD's allergies. It is covered as long as we have a scrip from her allergist.