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Questions tagged [fsa]

For questions that relate to flexible spending accounts in the USA, and any similar accounts in other jurisdictions. Use with an appropriate country tag.

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14 votes
3 answers
7k views

What is the rationale behind an FSA being "Use it or Lose it"?

One of the biggest gripes most people have with the Flexible Spending Account is the rule that you must "Use it or Lose it". This can lead to people frantically running around just before their money ...
TTT's user avatar
  • 47.2k
23 votes
3 answers
142k views

If I leave my job, what happens to my flexible spending account?

I am about to decide how much money to set aside for my 2013 Flexible Spending Account (FSA). (The max this year is $2500.) But I am wondering what happens if I switch employers during the year. Does ...
Stainsor's user avatar
  • 3,397
5 votes
1 answer
2k views

HSA/FSA, changing health plans mid year, concurrent coverage

My family is on the HDHP offered by my employer which has both an HSA and an LPFSA. The plan is on a calendar year (Jan 1 - Dec 31). We want to move to the plan offered by my wife's employer which not ...
Dennis's user avatar
  • 53
13 votes
5 answers
41k views

Wife has FSA with employer, and my new employer offers an HSA plan. What to do?

Current Situation My wife currently has a general health FSA with her employer. The fiscal year started on October 1. We have spent about a third of the money in the account, but she obviously has ...
Sam Jones's user avatar
  • 197
8 votes
6 answers
41k views

Can I use an FSA from multiple employers in a year?

My current employer offers an FSA. For 2014 I have opted to contribute the maximum allowed which is $2,500. If, after using that $2,500, I switched employers and they also offered an FSA would I be ...
jwmn's user avatar
  • 233
5 votes
1 answer
24k views

Can I pay past expenses using an FSA opened midyear?

In my old job I had a HDHP and HSA. Midyear, I started a new job and switched to a standard insurance plan and an FSA. Can I submit receipts for expenses from January to the FSA that I just opened in ...
Philip's user avatar
  • 910
3 votes
1 answer
433 views

Eligible Expenses for Dependent Care FSA

I have a similar issue as this question (Can I pay past expenses using an FSA opened midyear?) but with a Dependent Child FSA. Child had preschool expenses Jan - May. Had full amount elected, but I ...
Daryl's user avatar
  • 131
2 votes
1 answer
4k views

Accidentally contributed to a dependent care FSA instead of health/vision FSA, what are my options?

I put $750 into what I thought was a health/vision limited FSA this year through my employer. Apparently, this is actually a dependent care FSA. I don't know how this happened (whether it was my error ...
enderland's user avatar
  • 4,186
2 votes
1 answer
471 views

Can I claim the child care tax credit in addition to using a dependent care FSA?

Dependent care FSA is capped at $5000 annually and I use this entirely. The annual child care credit is $3000. If my expenses are over $8000, can I utilize both of these in the same calendar year?
Matthew's user avatar
  • 3,150
2 votes
1 answer
73 views

Where can I find a definitive list of FSA/HSA qualifying expenses?

I was recently informed that the Coronavirus Aid, Relief, and Economic Security (CARES) Act expanded the list of eligible HSA/FSA expenses to include things such as feminine hygiene products and over ...
M. Justin's user avatar
  • 121
2 votes
2 answers
1k views

Is it possible to use an FSA to pay for an individual health plan's premium?

I'm asking a follow-up to my other question... I'm currently enrolled in an FSA for my employer sponsored health plan. I'm considering leaving that health plan in favor of an individual (non-HSA) ...
Tim Reddy's user avatar
  • 362