(Closed) Flexible spending accounts…..anyone use it? Help!

posted 6 years ago in Legal
Post # 3
Member
13248 posts
Honey Beekeeper
  • Wedding: November 1999

Usually you have to set up the amount, or percentage, that will be taken out..  How much did you ask to be put into the FSA?

ETA: I misunderstood.  So they gave you an FSA advance and now you owe them $2500 to repay it?  I would assume they’re going to try to get as much as they can at once topay it off the quickest.  Did you sign anything that says how much they would take out?

Post # 5
Member
13248 posts
Honey Beekeeper
  • Wedding: November 1999

I hope they do too..  But since you didn’t get a total amount, they might very well tell you there was something in the fine print saying they would take back as much as they can to recover. 

Did they give you the money up front and just allow you to use it?  I’m confused, because I was under the impression that with FSAs, you allocated x% or $x into the account each check, and that was all you had to use.  For example, Fiance puts $100 each check into his FSA, giving him $2600 during the year to use, but they don’t give him $2600 up front.  But I don’t use the FSA benefit, so I could be mistaken.

Post # 7
Member
13248 posts
Honey Beekeeper
  • Wedding: November 1999

@amberdk:  Yeah, all of this stuff gets so complicated!  It sucks that they’d take all of that money at once, though.  It honestly doesn’t make sense.  Ugh.  All you can do is hope for the best when you call them; hopefully someone there will be reasonable and work with you on a payment plan versus a lump sum payment like they took from you..

Post # 9
Member
239 posts
Helper bee
  • Wedding: July 2006

NO..I have HSA and FSA is offered through DH’s work. For HSA you can contribute a certain $$ every pay check and you don’t need to use it all and you can roll over every year. FSA you need to use the all the money you put in every year and it doesn’t roll over and if you don’t use it, you wil lose it. They give you a debit card but that debit card is only for medical expenses and you can’t use it for other things. You put your own money in that debit card through your work and its for medical related expenses only. YOu can’t withdraw or take it out..theres penality on it like early withdrawl of 401k.

we have HSA which is better because our employer gives 1200$ yearly for a family and i just put 3000$ yearly on my own…since we are in the early 30s, we are healthy and dont need to go to doctors. If you have a choice, pick HSA over FSA… 

Post # 11
Member
2 posts
Wannabee

Using it all up hasn’t been a problem for me since a friend at work told me about FSAStore.com – every single thing they have is FSA eligible so there’s no questions, and they accept any FSA debit cards as well. Now I can max it out to a penny every year. We used to spend less than half just on child care and some prescription drugs, and just give up the rest! Felt stupind every time. But now we can use it all up on any fsa eligible items and expenses so whatever is left near the end of the year gets spent on http://fsastore.com/ on non-perishable items. They even have band-aids and dr. scholls insoles. Bet you did’t know those were eligible as well and without a prescription too!

Post # 12
Hostess
18637 posts
Honey Beekeeper
  • Wedding: June 2009

I’m glad you figured it out.  I used a FSA to pay for my medical stuff and my LASIK.  You just need to make sure that you will use it over the whole year because it will expire on March 15 of the next year.  I currently have a HSA which you can roll over from year to year.  It is worth it for me for sure!

The topic ‘Flexible spending accounts…..anyone use it? Help!’ is closed to new replies.

Find Amazing Vendors