Comments on: How to Set FSA Amount

By: Chris

Chris — Mon, 07 Dec 2009 15:08:12 +0000

Don’t forget that you can use your FSA towards eye glasses!

By: aua868s

aua868s — Sun, 06 Dec 2009 21:54:17 +0000

I tend to be conservative while fixing my FSA ammount….better than be stuck with dollars going in the wind at the end.

By: Izalot

Izalot — Sun, 06 Dec 2009 13:43:36 +0000

If you use a FSA with a debit card, remember to keep all of your receipts. I’ve had friends that used FSA debit card for items at the drugstore then have them rejected later due to not having the receipts!

By: kosmo @ The Casual Observer

kosmo @ The Casual Observer — Fri, 04 Dec 2009 14:23:48 +0000

I don’t think I explained it clearly.

My employer automatically remiburses me from my FSA account when I incur the deductible/co-pay/co-insurance. In the “old days” I’d have to wait for my explanation of benefits and then submit this paperwork to get reimbursed.

I’m not really sure what you’re asking in the second paragraph. If I don’t go to the doctor, I just have to use the FSA on other things during the year in order to exhaust it.

By: Revanche

Revanche — Fri, 04 Dec 2009 06:19:23 +0000

Be sure to check your upcoming year’s changes as well — I just blogged about mine [I have Kaiser, so anyone who has Kaiser HMO can review my post for salient points]. My copays are doubling, and RX costs are tripling – you definitely want to take those changes into account before selecting your FSA amount.

By: jepoole17

jepoole17 — Thu, 03 Dec 2009 21:43:50 +0000

Your employer’s option automatically accounts for what your deductibles (and co-pays, etc) will be in the coming year? Wow, that is pretty slick…and renders my advice pretty useless

What would happen if you go the year without a doctor’s visit? Obviously, that’s not a common scenario, but would you be reimbursed for the deductible since you didn’t allocate the amount yourself? Maybe I’m misunderstanding, sorry.

By: kosmo @ The Casual Observer

kosmo @ The Casual Observer — Thu, 03 Dec 2009 21:29:33 +0000

My employer actually has an option (which most people use) that automatically does this (basically using some sort of clearinghouse in the middle, I guess) – no need to submit the paperwork for deducibles/co-pays/co-insurance. Pretty slick.

By: jepoole17

jepoole17 — Thu, 03 Dec 2009 20:32:25 +0000

Don’t forget to account for your medical insurance deductibles, the amount you have to pay out of pocket before you even get to that co-pay. Even on a relatively friendly plan, these can run $300+/person and you can use your FSA to cover those as well.