So I have until March 15 to spend my remaining $500-$600 in my FSA. I don't wear glasses or contacts, and I've already stocked up on OTC stuff (is there a limit?). Any other ideas?

12/3/2008 11:53:11 AM

Can you spend it on health and wellness stuff. i.e. workout equipment, sporting goods, athletic wear, etc... You could also go get some checkups you might not get otherwise.

12/3/2008 12:06:17 PM

i'll check on the equipment, but I'm thinking it's a no. i may have to come up with some otherwise unneeded checkups

12/3/2008 12:58:04 PM

i know id be in this boat too, which is why i dont do the flex plan heh.

12/3/2008 1:29:17 PM

I used my BCBS once this year to see a GP to get allergy medicine and once this year for a prescription after oral surgery. I'm sure I wasted around $2000 in insurance.

12/3/2008 2:40:57 PM

well at least you can be thankful you don't need one b/c you don't have thousands of dollars of medical expenses every year

12/3/2008 4:56:38 PM

oh, I know, just saying there's no such thing as "too much insurance"

12/3/2008 5:54:33 PM

1) Get your teeth cleaned again.
2) Get your cholesterol checked.
3) Get a skin cancer screening.
4) Get prescription sunglasses.
5) Drugstore.com (first aid kits &c)

12/3/2008 7:00:55 PM

I'll have a bunch of money left over too.

I've noticed recently that when you return shit, stores will give you cash back to save on credit card processing fees.

so i was thinking of buying something expensive like a diabetes monitor or something and then returning it for cash, and then getting FSA reimbursement on top of that.

I will try this and report back.

12/3/2008 8:42:21 PM

.... maybe I'm dumb


are FSAs and HSAs the same thing?


I have an HSA and I'm pretty sure my money doesnt expire year over year.... if it does I am going to be PISSED

[Edited on December 3, 2008 at 11:52 PM. Reason : i'd have to spend nearly 2k on health shit..]

12/3/2008 11:50:57 PM

FSA's and HSA's are different.

HSA's (Health Saving's Account) are coupled with (high) deductible health insurance and don't expire each year.

FSA's (Flex Spending Account) are (generally) coupled with decent insurance and its a use it or lose it each year.

[Edited on December 3, 2008 at 11:54 PM. Reason : ]

12/3/2008 11:53:44 PM

ok

you got that right, mine is def. not a decent health care plan

12/4/2008 12:05:24 AM

yeah - i'm kind of in the same boat, but have a lot more to spend. I was expecting some high dollar medical expenses this year, but luckily didnt have them.

Needless to say when I go to the eye doctor next week, I'm getting the channel glasses (maybe like 3 pairs). Also getting a sonicare toothbrush.

You can also pay for the professional teeth whitening (like the super expensive laser treatment at the dentist) with money from your HSA

12/4/2008 1:30:43 PM

I have a FSA Credit Card. If I want to use some of the money on something like a SoniCare, can I just buy it at Target and put it on the card?

12/4/2008 4:35:47 PM

this is exactly why i don't put in

12/4/2008 6:42:21 PM

Not sure I follow why you wouldn't put it in, especially if you know of upcoming medical costs. I put away $500 of pre-tax money that I have spent for the most part. I basically have a credit card with $500 to use for any of those medical expenses, rather than paying approximately $650 out of pocket for the same expenses when getting the money in my paycheck.

12/4/2008 8:11:18 PM

Quote :

"can I just buy it at Target and put it on the card?"

yes.

12/4/2008 8:25:24 PM

I'm pretty sure SoniCare doesn't qualify. Also, isn't the deadline to spend the money Dec 31, not March 15. The deadline to claim reimbursement is March 15. You can use it to stock up on condoms.

[Edited on December 5, 2008 at 11:06 PM. Reason : ?]

12/5/2008 11:04:21 PM

condoms? people use those still?

12/6/2008 1:21:52 AM

i had a FSA once and struggled to find out how to spend it all. i ended up buying a bunch of prilosec OTC for my cousin, and then him paying me back.

my company now offers the high deductible plan so I do the HSA. I don't use my company's insurance plan (they require me to have one and they pay for it) since I have my own coverage, so it's basically a tax-deductible account for covering copays. I think I put in $100/mo.

12/6/2008 10:56:48 AM

Quote :

"I'll have a bunch of money left over too. I've noticed recently that when you return shit, stores will give you cash back to save on credit card processing fees. so i was thinking of buying something expensive like a diabetes monitor or something and then returning it for cash, and then getting FSA reimbursement on top of that. I will try this and report back."

thats a great idea. but the trick (for me at least) will be getting them to reimburse a purchase that my medial condition(s) doesn't require. ill have to do some thinking on this one

12/6/2008 5:16:51 PM

what's funny is that my FSA explicitly states that toothbrushes aren't covered by the FSA, BUT i purchased a sonicare at target using the card AND it's been 6 mos. no problem. it showed up in my statement and the money was taken out of the account. score one for me.

Quote :

"I don't use my company's insurance plan (they require me to have one and they pay for it)"

I wish my company paid my entire bill.

[Edited on December 6, 2008 at 8:28 PM. Reason : d]

12/6/2008 8:28:03 PM

i decided to get laser eye surgery this year so i just loaded up for '09

12/6/2008 9:25:07 PM

Quote :

"what's funny is that my FSA explicitly states that toothbrushes aren't covered by the FSA, BUT i purchased a sonicare at target using the card AND it's been 6 mos. no problem. it showed up in my statement and the money was taken out of the account. score one for me."

The cards aren't smart enough to limit what you buy, only where you buy them from. You can buy diapers and perfume and shit with them at Walgreen's, but if the IRS asks you to show some receipts, you better be ready to prove that what you're buying applies to your FSA/HSA. Not that you're likely to be audited, unless some bored IRS person reads this board.

12/8/2008 7:33:19 PM

Damn, this makes me so fucking glad I don't have to deal with FSA/HSA anymore. We actually have both options, but we also have the 100% everything coverage too (which, I don't know why anyone wouldn't choose that)

12/10/2008 5:26:51 AM

i wish i hadn't selected it. i thought, tax break? that must be good, but all they do take your money and give it back after a delay.

i still don't see the need for it.

12/10/2008 12:13:53 PM

I just spent my last $16.94 on allergy meds. If you know you're going to use it all it's not a waste-- I saved $330 this year by putting the money away before it was taxed.

12/10/2008 9:26:47 PM

Anything you need Dental related done which is not normally covered. I know Dana offers all sorts of services and Kathy is pretty good on checking if covered / not covered given a bit of lead time.

Stupid as this sounds ... anybody in the family or any friends who could use such things? Practical Xmas gifts aren't a bad thing (so long as it's not the ONLY gift).

And as a last resort, I like Bobby's suggestion ... buy it, claim it, and return it to Wal-Mart without a receipt for store credit.

12/21/2008 10:17:34 AM

I changed my BCBS plan because I really only go to the doctor once a year and I had the more expensive plan that people that are like 50 or older should get (more for people that might go see specialist more). I didnt really think to much about it when I first signed up, because it was about the same costs as the BCBSNC that I was paying. After the "open season" I talked to some new hires and they talked about the cheaper plan...oh well. I figure I will switch back when I get older...but that plan is getting $$$$$ and when you go once or twice to a doctor you are wasting alot of money (still am with the plan I switched to but it is about half as expensive)

[Edited on December 21, 2008 at 11:36 AM. Reason : w]

12/21/2008 11:35:17 AM

^dude, what does that have to do with the topic?

Quote :

"return it to Wal-Mart without a receipt for store credit."

you can only do that 3-4 times. make it count.

12/21/2008 12:53:59 PM

http://www.esquire.com/cm/esquire/images/condoms-080508-lg-23371220.jpg

12/22/2008 4:38:46 PM

So i've got about $450 left to spend between now and March 15th...think I'm in decent shape.

1/12/2009 11:12:33 PM

Get your doctor to write you a note to get massages.

1/13/2009 10:02:05 PM