Health flexible spending account

Archived From: Finance
  • Page :
  • 1
  • Text Only
Voting History
rated:
It is close to year end, I still have abount $900 left in my health flexible spending account (FSA). I dont want to loss it. what are your advices for me to have money back? Thanks.

I can buy prescription glasses, ear thermometer, some OTCs, humidifier, blood pressure monitor and blood glucose monitor etc, but I always buy some items from eBay, where is much cheaper than local drug stores.

Member Summary
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
Thanks for visiting FatWallet.com. Join for free to remove this ad.

tommy2005 said: I can buy prescription glasses, ear thermometer, some OTCs, humidifier, blood pressure monitor and blood glucose monitor etc, but I always buy some items from eBay, where is much cheaper than local drug stores.

Is it really cheaper to buy these things from eBay if you lose the $900 in the FSA? Until you spend the $900, anything that you can't get reimbursement for costs more than things you can reimburse.

If you havent been to the dentist then you should go. That will take up a few hundred right there. prescription sunglasses are nice to have as well....

Some archived threads

Thread 1

Thread 2

condoms.

Also:
http://www.afadvantage.com/flex-list-eligible.asp

jeffscott said: tommy2005 said: I can buy prescription glasses, ear thermometer, some OTCs, humidifier, blood pressure monitor and blood glucose monitor etc, but I always buy some items from eBay, where is much cheaper than local drug stores.

Is it really cheaper to buy these things from eBay if you lose the $900 in the FSA? Until you spend the $900, anything that you can't get reimbursement for costs more than things you can reimburse.


+1
If you stand to loose $900 - all stuff is free if you buy in drug store. Also I do not think you can buy OTCs on e-Bay - so stuck them up.Also OTC include not only medications but Bandaids, hot/cold packs.

ETA: Very useful buy is a first aid kit for the car. You can buy many of those and give them as a gifts to family and friends.

See if you can get a prescription for H&B.

break a leg

If your doctor believes that exercise is good for you, she might write a note to make your gym membership an fsa expense.

couponhed said: If your doctor believes that exercise is good for you, she might write a note to make your gym membership an fsa expense.

This is what I am thinking now:
Can the gym club set up something like 'buy one get one free' package so that it can utilize the FSA fund? Of course the "package" is going to be 2x expensive, but I don't think this will break the rule of FSA, right?

forget buying off eBay, buy your fsa items on Drugstore.com with bing CashBack. it's currently at 25% after 60 days. you also get 5% of the purchase price in Drugstore.com dollars in a couple months. so not only do you save on taxes on the standard fsa stuff, you get 25% back in cash, check that can be mailed to you and an extra 5% to buy something later on. with 900 bucks, assuming you use all of it, you'll see a return of 225 in cash a few months from now, 45 in Drugstore bucks to buy whatever you want off there and 900 dollars worth of regularly priced fsa goods.

if you really want to be total return, find fsa qualifying stuff that can be resold.

going by this rational, i find it hard to believe that buying off eBay is cheaper.

Hookers and blow. Just get a doctor's note first.

(common question--see search results above)

Dentist, as others have mentioned. If you or someone in your family wears contacts, then contact solution, and possibly a yearlong supply of contacts (there are often rebates/discounts for a 6-12 month supply of contacts).

You could just buy expensive stuff and take it back. That would be unethical though.

Do you have to spend it all by Dec 31st?
My employer allows us a grace period, we can spend through Mar 15th of the folowing year, and claim funds through May of the following year.

Jus curious to know if viagra is covered by FSA?

quizzer25 said: Jus curious to know if viagra is covered by FSA?Medications for which the FSA member has a prescription are usually covered. So are most OTC medications. Check with your plan administrator.

quizzer25 said: Jus curious to know if viagra is covered by FSA?
I have yet to see a plan that implements any rules more restrictive than IRS requirements. That means that any medication intended to prevent, cure, or treat a disease is fair game. Since erectile dysfunction counts as a disease, the answer should be yes.

One item I found in my FSA plan documents:

"Please note that stockpiling OTC medicines or items is not allowed and that requests for quantities deemed by <plan administrator> to be stockpiling will be denied."



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014