What can I spend my remaining healthcare FSA dollars on?
Somehow, I severely miscalculated on my FSA election for 2009, and now find myself with $952 remaining in my health spending account. I have been blessed with fine health this year and didn't spend near as much as the last few years.
Short of getting swine flu, or buying a lifetime's worth of ibuprofen (I do go through this stuff like candy), any suggestions on what else can I spend these dollars on? I don't wear glasses/contacts, nor do I feel the need for any plastic surgery. I probably screwed up by not charging every dime of OTC medications to my FSA, but I can never remember to separate those items at the supermarket check-out.
First, check with your employeer to see if they have opted for the optional 2 1/2 month grace period, which gives you till the middle of March (a few years ago the IRS let them do that if they wanted). That gives you a bit more time.
Look at what is covered by your regular insurance and find stuff that isn't. Any dental work you may need? Even though you don't wear glasses, have you had an exam? One of those full physicals with all the blood work and all that?
Have you submitted for any insurance premiums that you have to pay over what your employer pays?
You'll have to decide if this is ethical or not but could you buy some high $ OTC meds/product, charge them to your FSA then return them later for a store credit or cash?
*I don't have a use it or lose it plan so I'm not familar with them.
First, check with your employeer to see if they have opted for the optional 2 1/2 month grace period, which gives you till the middle of March (a few years ago the IRS let them do that if they wanted). That gives you a bit more time.
Unfortunately we have to spend the money by 12/31/09--just checked on that.
Quote:
Originally Posted by cordelli
Look at what is covered by your regular insurance and find stuff that isn't. Any dental work you may need? Even though you don't wear glasses, have you had an exam? One of those full physicals with all the blood work and all that?
Dental is the biggest non-covered thing--I just made an appointment, which I think will include X-rays, so that ought to be about $300. Otherwise I am racking my brain--my one chronic prescription is covered, and the mail order pharmacy is cheap. (Maybe I can try to get one more prescription of Malarone to put on the shelf, but the last time I bought that, it cost $5!) I do put all my doctor visit co-pays on my FSA debit card.
Quote:
Originally Posted by cordelli
Have you submitted for any insurance premiums that you have to pay over what your employer pays?
Employer pays 100%. I have one of those "gold-plated" policies
Does your program allow you to use these dollars toward health club membership/payments? What about massage therapy. I mean REAL massage therapy What about working with a nutritionist/dietician?
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this is more for next year but do you have the RX debit card?
Its basically a Mastercard where you use it to pay for all RX and OTC stuff that qualifies; its paid right then and and there like a regular CC and you never see the bill.
I love it and anytime I need anything that qualifies I run to Safeway, CVS etc and buy all that I need, whip out the card and walk out with my stuff;
just for fun, I threw a candy bar on to see if I could pay for that with it and it went thru; in the end its not in my best interest to do that since I always have more in eligible costs than amount allowed to use
one other thing; go buy one of those $100 thermometers or other medical equipment that you might use. that all counts, and what you would get by buying the good stuff is that it will last and be accurate. I did that a few years ago when I was in your boat even after the 2 1/2 month grace period
Well, just did a big order at Drugstore.com (they have a handy list of FSA-approved items) and all I could manage to come up with was about $115 worth of stuff--that will cover my OTC drug needs for the next five years, most likely. Sadly, electric toothbrushes aren't on the list, or I'd replace my ancient one.
I'm pretty much up-to-date on things like blood work, but maybe an eye exam would be a good idea (now that I am 42 and find myself squinting on occasion, although I have always had 20-20 vision).
Quote:
Originally Posted by TrojanHorse
do you have the RX debit card?...just for fun, I threw a candy bar on to see if I could pay for that with it and it went thru
I do have an FSA debit card, but the administrator is ridiculously vigilant about what goes on it, so there is no chance at all of getting away with charging non-approved items at CVS.
Quote:
Originally Posted by youreadyfreddie
How 'bout some really cool sunglasses?
Does your program allow you to use these dollars toward health club membership/payments? What about massage therapy. I mean REAL massage therapy What about working with a nutritionist/dietician?
Neither sunglasses (since I don't need vision correction) nor health club membership dues are covered--just went through the whole giant list on my FSA administrator's website. It doesn't allow much in the nutrition category, either. Nothing to do with dental care (toothbrushes, whiteners, etc.)--all I can put on the card is visits to the dentist.
Foot orthotics, acupuncture (something massage-esque), blood pressure monitor. Best idea is the eye doctor, get the most minor Rx you can get and then get nice shades.
Best idea is the eye doctor, get the most minor Rx you can get and then get nice shades.
Aha. That sounds like a plan. I really have no trouble with my vision at all--but who knows, maybe at my advanced age it has slipped to 25:20 or something like that.
Foot orthotics, acupuncture (something massage-esque), blood pressure monitor. Best idea is the eye doctor, get the most minor Rx you can get and then get nice shades.
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Crazy little thing called love.
Even with 20/20 vision, an eye exam is good if it's been some period of time. So much stuff is so much easier to treat if it's treated early, and if you find yourself squinting at times, it's time for an exam.
You have adjusted the amount for next year, or at least added it to the calendar to do as soon as you can, right?
Even with 20/20 vision, an eye exam is good if it's been some period of time. So much stuff is so much easier to treat if it's treated early, and if you find yourself squinting at times, it's time for an exam.
Just made the appointment. This seems like a good idea. My dad never wore glasses until he was in his 40s, so it could be that I am in line for this. Plus, I haven't seen an eye doctor for more than 30 years!
Quote:
Originally Posted by cordelli
You have adjusted the amount for next year, or at least added it to the calendar to do as soon as you can, right?
I will certainly remember this when "change period" comes around--I think that will be in the next few weeks.
What about working with a nutritionist/dietician?
