Comments on: How to Spend Down Your FSA

By: Jim

Jim — Wed, 09 Dec 2009 05:49:58 +0000

Call, they could’ve made a mistake. Sometimes I think there’s too much leeway in the person who processes your paperwork!

By: Shock

Shock — Wed, 09 Dec 2009 05:06:37 +0000

My FSA administrator accepted 3 claims and denied one all for the same prenatal meds my wife was taking. The first two were accepted, third denied then fourth accepted. I submitted all the required paperwork. I can’t figure that one out!

By: James

James — Tue, 08 Dec 2009 19:57:01 +0000

postscript to previous message:

re: airfare — I’m pretty sure the IRS/FSA admins don’t take kindly if you get your teeth cleaned in New York just so you can get tax-free airfare. Didn’t mean to suggest any kind of abuse. Airfare is probably only applicable if you see a specialist that doesn’t exist in your city.

By: James

James — Tue, 08 Dec 2009 19:47:13 +0000

You can also claim transportation expenses. Calculate mileage to your doctors with the standard mileage rate — whatever the IRS declares it is. You can also claim for bus, subway/metro, train, even airfare. As long as your doctors aren’t too close to your house, that can add up to quite a bit.

I think you should do that before stocking up on nonperishables that you don’t really need. Get cash!

Contraception for both men and women falls under FSA, but not hygiene stuff.

When you’re in the doctors office, and he or she suggests that you take or do something that involves nonexempt items — ask the doc to “prescribe” it (write it down on official stationary) and you’ll be able to claim items that are normally not-exempt (but are used for a medical purpose). For example, if you have eczema, ask the doc to prescribe you skin moisturizer.

And one odd thing *I think* is FSA-able is eyeglass repair or cleaning kits (for prescription eyewear). I’ve claimed that before because my plan at the time listed it.

But, correct me if I’m wrong, I think the list of stuff you can get can vary depending on your FSA administrator. For example, dual use items (for exempt and non-exempt purposes) are up to the admin to deal with — and some just don’t bother with it. Some will only partially reimburse dual-use items. So check with them before trying anything in the gray area.

By: Chris

Chris — Mon, 07 Dec 2009 15:14:11 +0000

My favorite, copay for a therapeutic massage…

By: Jim

Jim — Sun, 06 Dec 2009 15:10:53 +0000

I don’t think the government does anything to track that but I imagine that would fall under insurance fraud.

By: Izalot

Izalot — Sun, 06 Dec 2009 13:34:15 +0000

While not in the spirit of using a FSA, how does the government keep track of people buying items then returning the item and still use the receipt for the FSA? If there is no tracking, I can see someone buying a defibrillator one month for $1000, returning it, then turning in the receipt to their FSA to pocket the amount(10-35%).

By: Eric

Eric — Sun, 06 Dec 2009 01:04:03 +0000

Yes, condoms are a great reason to use the account.

By: CK

CK — Fri, 04 Dec 2009 16:26:31 +0000

sadly no. just a stress release.

By: saladdin

saladdin — Thu, 03 Dec 2009 22:28:23 +0000

Don’t laugh, but what about condoms?

saladdin

By: eric

eric — Thu, 03 Dec 2009 19:49:50 +0000

Stocking up on over the counter stuff is good. They last a long time and you’ll always need them eventually.

By: Evan

Evan — Thu, 03 Dec 2009 19:35:29 +0000

You can use them on prescription sunglasses, not just eyeglasses. I used some extra flex $ to fund a pair of Pradas. B-)

By: saladdin

saladdin — Thu, 03 Dec 2009 19:00:28 +0000

Is that like a “full release” massage?

saladdin

By: Adam

Adam — Thu, 03 Dec 2009 18:33:04 +0000

I have two fall backs, my wife is a volunteer EMT and needs to replenish her kit regularly. I use the leftover FSA funds to stock up on non-perishables at then end of each year. Last year due to a typo in my enrollment forms, she ended up with a new stethoscope.

If she hadn’t the need for a fresh kit, I’ve contemplated purchasing over the counter items and donating them to local organizations. (Can’t claim the donation as the money used was already tax free).

By: CK

CK — Thu, 03 Dec 2009 18:05:36 +0000

I’m a chiro skeptic but you can usually get a “therapeutic massage” through a chiro office. Not a bad way to spend extra FSA money.