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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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When does the IRS typically announce health FSA contribution annual limits?

Based on this and this, as of November 6, 2023, the IRS still has not announced the health FSA contribution limits for the year 2024, even though most private employers have already begun their open ...
Very Tiny Brain's user avatar
1 vote
1 answer
63 views

Dependent Care FSA prepayment in the same year?

My child's care is $1,900 a month. If I sign up for a Dependent Care FSA, I'm told that the funds are immediately available for use in the coverage year. Can you pay on January 1 2024, the full $5,000 ...
Evan Carroll's user avatar
7 votes
1 answer
882 views

Will my FSA money roll over each year if I stop contributing

My employer offers a Vision & Dental FSA that I have contributed money to. However I would like to stop contributing to it. Up to a certain amount of money ($570) in the FSA rolls over to the next ...
ORcoder's user avatar
  • 173
10 votes
2 answers
3k views

Can I switch from FSA to HSA mid-year while switching employers?

From January through March this year, I was employed by Employer A and had an FSA set up for $500. I have spent all of the FSA. Starting the first week of April, I have been employed by Employer B. ...
James Dunn's user avatar
5 votes
1 answer
657 views

Unmarried couple, DCFSA without claiming the child?

We are an unmarried couple with a young toddler living in an extended household - filing separate tax returns. The child can qualify as a dependent for either of us since we both live with him ...
MonkeyBonkey's user avatar
1 vote
0 answers
201 views

FSA - prepay installment plan for orthodontics - okay on flexible spending account?

Let's say $2,000 is still owed on an orthodontic payment plan which is set to have monthly payments of $250/mo. Assuming there is $2,000 left available on an FSA, can it be used to pay off the rest? ...
g491's user avatar
  • 145
2 votes
1 answer
251 views

Flexible Spending Account to pay medical loan from earlier year?

I'm considering a surgery which would be covered by an FSA account. However I have not contributed anything to my FSA account, and it would take two years of max allowed amount ($2,850) to cover the ...
Arya's user avatar
  • 141
2 votes
1 answer
51 views

With a Dependent FSA, are expenses incurred in the current calendar year, but before mid year enrollment eligible?

In the United States with a Dependent FSA, are expenses incurred in the current calendar year but before mid-year enrolment eligible? e.g., if I enroll in November for the 2021 calendar year, are ...
MonkeyBonkey's user avatar
21 votes
7 answers
6k views

Are the HSA and FSA bad deals?

As I understand it, the HSA and FSA accounts are intended to provide individuals with a way of not paying tax on money they spent on healthcare. The individual sets up the account to receive a portion ...
Melissa P.'s user avatar
3 votes
1 answer
1k views

Reimbursement from insurance after FSA reimbursement received

A couple months ago, I had a dental appointment and, since my dentist is not in-network, I had a substantial bill. I submitted this expense to my flex spending account (FSA) for reimbursement, and I ...
AugerAlpha's user avatar
0 votes
1 answer
89 views

What should I do if my Dependent Care FSA amounts are inconsistent?

Box 10 (for dependent care FSA) shows $4423. I elected, contributed, and was reimbursed 5000 according to the benefit provider, but only actually had 4423 withheld according to the payroll provider. ...
Octavian's user avatar
  • 143
6 votes
2 answers
1k views

How does one spouse being highly compensated affect family FSA limits?

If one spouse is considered a Highly Compensated Employee (HCE) (and has dependent care FSA contributions capped), and the other spouse (who works at a different company) is not, is the dependent care ...
Learning2Save's user avatar
1 vote
1 answer
93 views

Dependent Care FSA Payment - Bill Before End of Plan, Due Date After Plan Year Ends

My Dependent Care FSA plan year ends on 3/31/21. The plan says the last day to incur expenses is 3/31/21 and the last day to submit requests is 6/30/21. If I get a bill sent to me before 3/31/21 with ...
thecoolmacdude's user avatar
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
4 votes
2 answers
355 views

I started a new job, want to switch my wife to my new insurance. Can I open an HSA if she had an FSA on her previous plan?

I've been searching for a clear-cut answer to this for a while, to no avail. My employer benefits advisor's guidance was unsatisfactory, and my CPA hasn't gotten back to me about it. And so...once ...
A Goldberg's user avatar
4 votes
1 answer
409 views

My dentist charged me for PPE and my insurance won't cover it. Can I use my FSA to pay for it?

I recently visited my dentist for my semi-annual checkup. The checkup is covered by my insurance, but when I reviewed the EOB after the visit I noticed a $20 charge with code D1999/Unspecified that my ...
Spig's user avatar
  • 769
5 votes
0 answers
73 views

Is preschool closure (due to the pandemic) a qualifying event for Dependent Care FSA?

I'm trying to figure out of closure of my daughter's preschool meets the qualifying event criteria so that I can reduce my dependent care FSA contributions. I've read a few places online that change ...
jwmn's user avatar
  • 233
2 votes
1 answer
169 views

HSA/FSA eligibility and Last Month Rule

Spouse has had an HSA eligible plan but because I had an non-limited FSA throught my employer we had not been able to contribute to the HSA. Last year we decided to get rid of the FSA, the FSA ...
d0001's user avatar
  • 123
1 vote
2 answers
121 views

Submitted one medical expense to two FSA acounts. How much trouble am I in?

Both myself and my spouse have FSA accounts through our jobs. We both submitted the same medical expense to each of our individual accounts. Is there a penalty for doing that? Do FSA companies submit ...
David's user avatar
  • 13
1 vote
0 answers
135 views

Hospital Payment Plan - FSA account

I have a large hospital expense coming up in the next week and was planning on signing up for a monthly payment plan. Currently, I am not enrolled in FSA account for the 2019-2020 period. We are in ...
Alex's user avatar
  • 11
4 votes
2 answers
983 views

Opening an FSA with dormant HSA

A long time ago, I opened an HSA account. Now my employer is offering me an FSA account. So long as I don't contribute to the HSA account, can I keep it for later and only contribute to the FSA ...
Babakness's user avatar
  • 143
3 votes
1 answer
69 views

Dependent Care FSA Reimbrusement

I had FSA with past employer from Jan to Sept 2019 and then switched Job with new employer and started FSA amount with the rest of the limit. All my dependent care expenses were till Sept 2019 but ...
oyeankur's user avatar
0 votes
2 answers
75 views

Residual FSA account funds

Each year I put some money into my FSA which will allow me to pay for prescriptions (and other medical costs) tax free. The problem is, you lose any amount not used by the end of the year (or shortly ...
Anthony L Chamberlain's user avatar
2 votes
1 answer
234 views

Moving from Family HDHP/HSA, to individual HDHP/HSA and individual FSA?

A similar question was asked here, but in this case they were looking to move to a family plan. Wife has FSA with employer, and my new employer offers an HSA plan. What to do? My situation is my ...
Shawn's user avatar
  • 263
4 votes
1 answer
2k views

Cannot be reimbursed by commuter benefit FSA after being let go?

I spoke with support for the commuter benefits card that I was using with my prior employer. I have until June 30th to request these funds to be reimbursed as is typical with an FSA. When I applied ...
Scott Skiles's user avatar
  • 1,203
0 votes
1 answer
71 views

How to manage FSA Dependent Care

What is a good strategy to manage FSA Dependent Care accounts. Since the money is "use it or lose it" I want to make sure that I use all of the money I put into that account. The max contribution is $...
financial_noob's user avatar
4 votes
2 answers
2k views

Who determines what is FSA Eligible?

I have a Limited Purpose Flexible Spending Account and I recently added its debit card to my Amazon account which has an FSA eligible store. Items are explicitly marked FSA eligible like shown in the ...
jxramos's user avatar
  • 1,431
2 votes
1 answer
113 views

Could my FSA from my previous job disqualify me from doing an HSA with my new one?

I had my previous job 2015 through August 2018. Near the start of the job, I remember contributing something like $200 to an FSA. I regretted my decision (since I hate dealing with FSA complications) ...
fltfan's user avatar
  • 23
0 votes
1 answer
51 views

Dependent Care FSA mid year election

We have a dependent care FSA in 2018 via my company sponsored plan and I contributed $5000 for 2018. My open enrollment started recently and I realized my company has put a limit on my contribution ...
OPK's user avatar
  • 101
2 votes
2 answers
7k views

How are FSAs handled when you change jobs?

For my 2019 benefits from my company I enrolled for $1000 in an FSA account. So as of Jan 1 I have $1000 available to spend, but in late Feb. I changed jobs and I have one more check being issued to ...
Brock S.'s user avatar
  • 121
1 vote
1 answer
99 views

How do I submit receipt for FSA reimbursement for my spouse's medical expense?

I and my two children are under Kaiser, while my husband is under a different medical plan (BlueShield of CA). I enrolled in medical FSA while he is not. I read online that his medical expense can be ...
John Jiang's user avatar
3 votes
1 answer
617 views

FSA pre paid to dentist

I am leaving my company. I have $1650 in my fsa that is available for use. I would like to pre pay my Dentist for services from my FSA card. Is that ok to do?
Seve Konz's user avatar
6 votes
1 answer
190 views

Using a healthcare Flexible Spending Account at the same time as a Health Savings Account?

Here is my situation: I have the high deductible insurance plan. The coverage includes my wife, dependent daughter and mysef. I contribute to an HSA. My wife has her own insurance through her ...
Chip Bastian's user avatar
2 votes
1 answer
109 views

How much can we put into flexible spending account

My wife and I are going through a divorce, which will not be finalized before the end of 2018. We have three kids together and will be splitting custody. Both of us are trying to enroll in benefits ...
Kevin's user avatar
  • 2,602
3 votes
2 answers
269 views

How is an FSA's total annual amount of contribution available on the first day of coverage?

I'm walking through my open enrollment documents and there's this part that surprises me... Is the annual amount of the contribution available on the first day of coverage? HSA: No. Only the ...
jxramos's user avatar
  • 1,431
1 vote
0 answers
49 views

Health Management Reimbursement Accounts (HMRAs / HMAs)

I recently heard about an interesting alternative to HSAs called "Health Matching Account Services" ("HMRAs"/"HMAs"). However, most of what I can find out about them is on the very website of their ...
SAH's user avatar
  • 353
0 votes
1 answer
1k views

Can we have both HSA and DCFSA

I was covered by my wife's HDHP with HSA plan from her employer with a deductible of 2500 (individual)/5000 (family). We recently became parents of a beautiful baby girl.I want to opt for health ...
VK_217's user avatar
  • 103
2 votes
4 answers
229 views

Tax advantage of FSA reimbursement vs. FSA direct payment

I signed up for an FSA for dependent care from my employer. The company that manages the FSA has informed me that the only way I can use my funds is for me to pay upfront using a regular credit card, ...
painter48179's user avatar
  • 2,761
2 votes
2 answers
1k views

Can a single expense be split between my and my spouses flexible spending account?

One of us got hearing aids this year which cost $4500. Can I submit this to my FSA and get the total amount I have for that account ($2600), and then let my spouse submit a claim on the spouses ...
cmhodge's user avatar
  • 21
1 vote
1 answer
225 views

Changing FSA vs HSA contributions mid-year

Am I understanding things properly that HSA's allow arbitrary annual contribution changes mid-year so long as they are within the maximum amount for that year while for FSA accounts you elect your ...
jxramos's user avatar
  • 1,431
1 vote
2 answers
234 views

Dependent Care FSA versus Childcare Tax Credit

I have a two week old newborn. In reviewing my employer's benefits within the 30 day life event window, I have noticed we have a Dependent Care FSA, which seems an exciting benefit that I was not ...
user662852's user avatar
  • 8,389
0 votes
1 answer
508 views

Switching benefits provider from HSA to FSA. Can I continue to claim the cost of my LASIK surgery?

I joined my current company in January and chose a Kaiser Permanente health insurance plan with a Health Savings Account (HSA), and chose the maximum contribution of $3,450 per year. The contributions ...
Kurt Peek's user avatar
  • 499
1 vote
1 answer
566 views

Self employed FSA options

I am self employed in Ohio and on my husband's insurance. Is there an FSA type account that I can set up? We do not have a High Deductible medical plan so the MSA will not work for me either. I ...
Vanessa Dennis's user avatar
0 votes
1 answer
146 views

FSA or Personal HSA

Our employer (a hospital) only offers an FSA. Which recently switched when the insurance company changed. I am having to fight tooth and nail and spend hours submitting forms, phone calls and ...
Heather Rose's user avatar
2 votes
2 answers
435 views

Switching doctors, can I get a refund of the FSA money and pay another doctor?

I want to switch from doctor 1 to doctor 2 for a dental procedure. I have paid doctor 1 around $3500 from FSA over two years since this procedure is costly and long, so I've been making advanced ...
user3424232's user avatar
19 votes
2 answers
4k views

Laid off. Had FSA overages that I wasn't aware of. Can they collect?

I was abruptly laid off, and I wasn't aware of the FSA overages until after my departure. I realize I'll sound like a weasel, but can they collect? They paid out more than the annual limit and they ...
user68552's user avatar
  • 199
3 votes
1 answer
434 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
21 votes
3 answers
8k views

Is it mandatory to have health insurance?

Is it mandatory to have health insurance? Assuming that I contribute $200 monthly, which for 12 months is costing me around $2400, and don't use the insurance, then having only FSA with a fixed ...
goofyui's user avatar
  • 1,117
11 votes
1 answer
1k views

I have both an FSA and HSA. How can I fix this mistake?

Expecting a lot of medical expenses in 2017, I signed up for both the medical FSA and HSA offered by my employer. Unfortunately, my employer did not mention that it was against the rules to have both. ...
Doug's user avatar
  • 111
2 votes
1 answer
2k views

Married filing separately: Can I have an FSA while my husband has an HSA?

If my husband and I file our taxes as married but filing separately and I am covered under his HDHP with HSA can I have an FSA through my employer? His employer will contribute $1400 to HSA but our ...
Kim Y's user avatar
  • 21