Skip to main content

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.

Filter by
Sorted by
Tagged with
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
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
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
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
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
14 votes
2 answers
2k views

Difference between Health Savings Account (HSA) & Flexible Spending Account (FSA)?

What is the practical difference between a Health Savings Account and a Flexible Spending Account? What are the pro's and con's of each, and are there situations where either is best?
C. Ross's user avatar
  • 7,856
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
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
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
10 votes
1 answer
3k views

If I don't participate in my employer-sponsored FSA, can I open my own HSA?

My employer offers/manages an FSA (Flexible Spending Account) as part of my health care plan. I put in $800 last year and barely managed to use it up, including expenses in the allowed grace period (...
johnny's user avatar
  • 1,265
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
7 votes
4 answers
681 views

Day care tax deduction

In the US, are day-care expenses tax deductible? And if so under what conditions? For example, if one parent is working, but the other is still going to (graduate) school, is any kind of deduction ...
user avatar
7 votes
1 answer
895 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
7 votes
1 answer
1k views

My company terminated me and closed my Flexible Spending Account

I was recently terminated from a job because they were eliminating my position. I was not terminated for cause. I had an FSA that I was contributing to and it has a balance of approximately 450.00. ...
James Johnston's user avatar
7 votes
1 answer
763 views

How can we use up our Flex Spending Account (FSA) before the end of the year?

My husband and I signed up for a Flex Spending Account for the first time this past year. We've got about $100 left over now, in mid-November, and I've been told that money will disappear if we don't ...
JCarterRN's user avatar
  • 2,286
7 votes
1 answer
856 views

Switch from HSA/Limited FSA to FSA only

In 2016 I had a High Deductible Health Plan/HSA and a Limited FSA through my employer. For 2017 during our open enrollment I decided to not use a HDHP, and chose a PPO Plan. In addition, I selected a ...
shill's user avatar
  • 71
6 votes
1 answer
556 views

What are some good ways to spend FSA money?

I have an FSA and contributed $400 to it. I made this decision in October, thinking that I would need some dental work in the coming here. Two weeks after submitting my form, I chipped the tooth and ...
Daniel's user avatar
  • 877
6 votes
1 answer
191 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
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
6 votes
1 answer
147 views

Can I claim FSA/CDCTC for expenses for a day school where my wife works?

A church offers a day school for nursery to preschoolers, in which our eldest child (3) is enrolled, (and we pay totally out of pocket as my wife is currently a full-time mom. My wife is considering ...
KeithS's user avatar
  • 7,393
6 votes
1 answer
1k views

Dependent Care Flexible Spending Account (DCFSA) over-contribution rules

During these days we have an enrollment period for 2014 benefits at my workplace. After this window, no changes will be allowed to my contributions selections. One of the benefits is a DCFSA. One ...
ysap's user avatar
  • 307
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
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
5 votes
4 answers
2k views

What's the best way to handle FSA transactions in light of a pregnancy?

If a worker makes contributions to a dependent-care Flexible Spending Account, and that worker expects she will be on maternity leave for a portion of the year, much of which will be "unpaid", what is ...
Jeromy French's user avatar
5 votes
1 answer
660 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
5 votes
2 answers
159 views

Are there tax-advantaged accounts (e.g. HSA, FSA) for retired Social Security recipients?

Medicare doesn't cover 100% of my medical and dental expenses. Is there a tax advantaged plan I can start to contribute to in order to pay them? I have no employer to 'offer' one.
jim sturtz's user avatar
5 votes
2 answers
192 views

Am I eligible to use a dependent care FSA if my spouse works half-time and goes to school half-time?

I work full time. If my wife worked full time we would be eligible to use a dependent care FSA. If my wife went to school full time we would be eligible to use a dependent care FSA. But my wife works ...
Stainsor's user avatar
  • 3,397
5 votes
1 answer
3k views

For dependent care benefits, what's the dividing line between "camp" and "music lessons"?

For dependent care benefits, what's the dividing line between an eligible expense and one that's not? According to IRS publication 503, "The cost of sending your child to a day camp may be a work-...
Bryce's user avatar
  • 2,550
5 votes
3 answers
37k views

Can I enroll in an FSA if my employer doesn't offer it?

I'm really REALLY interested in opening an FSA. I've asked my employer and they say they don't offer it. We have insurance through them with BCBSGA. It isn't a HSA qualified plan. So is there a way to ...
elfshadowreaper's user avatar
5 votes
1 answer
2k views

Is there any state tax (California) advantage to putting money into a limited purpose FSA versus putting it all into an HSA?

For example, I will not be contributing enough to max out my HSA contributions, so would there be any benefit to putting extra money for my child's braces into the LPFSA, or should I just put it all ...
In California's user avatar
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
4 votes
2 answers
986 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
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
4 votes
2 answers
3k views

Why would I enroll in a Limited Purpose FSA, on top of an HSA?

Open enrollment is coming up and I have the option to open both an HSA and a limited purpose FSA, which only covers dental and vision expenses. Why would I participate in both?
jldugger's user avatar
  • 7,437
4 votes
1 answer
14k views

Is FSA spending eligible if the service is prior to Plan Year but the payment is within it?

Background: My employer's Plan Year is the fiscal year, so for this issue it concerns Sep 1, 2016 through Aug 31, 2017. We were expecting a baby in mid-Aug 2016, so knowing charges would be coming in ...
mike.k's user avatar
  • 151
4 votes
1 answer
411 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
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
4 votes
1 answer
813 views

Can my former employer reimburse my FSA expense due to their error?

Ok, so this is a bit convoluted. To be clear, this is not a "use it or lose it" question, nor is it a question of overspending contributed amounts before leaving (I'm well aware of how all that works)....
justbeez's user avatar
  • 143
4 votes
2 answers
364 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
1k views

Dependent Care FSA: What if my spouse is a full-time student AND works?

I work full-time. My employer provides access to a dependent care FSA. My wife goes to school full time and as a result we have dependent care expenses for two eligible dependents. She also works part ...
Stainsor's user avatar
  • 3,397
4 votes
1 answer
413 views

What happens with my HCSA contributions if I leave my job on disability and then return later in the year?

Health care spending account contribution balance as of 1/1: $2500. Major Health issue + expenses. Went to short-term disability on 2/2. Spent the whole $2500 in my HCSA by 2/10. My total contribution ...
zachery Johnson's user avatar
4 votes
1 answer
197 views

My employer changes the fsa plan year. What happens to me?

My employer will change from a July-June plan year for my fsa to a January to December plan year. I have already used up a 2500 dollar allowance for July 2015 to June 2016. What does this mean for the ...
Pjd813's user avatar
  • 41
4 votes
1 answer
442 views

HSA and FSA Concurrently

Our family's health insurance is through my wife's job and it is a high deductible plan. She opened and started contributing to an HSA in 2014. I started contributing to an FSA through my job in 2015 ...
HSAtroubles's user avatar
3 votes
2 answers
270 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
3 votes
1 answer
226 views

Would parking at a parking lot near or in my residence prevent me from paying for it with my transit FSA?

So: The IRS defines Qualified Parking as parking at or near your place of employment. It also includes parking on or near the location from which an employee commutes to work using public transit, ...
Tai's user avatar
  • 461
3 votes
2 answers
118 views

Can I enroll in FSA after losing coverage due to my father losing his job?

I am being allowed by my employer to enroll in a Health Insurance plan outside of the open enrollment period or new hire period due to an Involuntary Loss of Coverage (my father lost his job and I was ...
Carmen Sandoval's user avatar
3 votes
2 answers
186 views

Are medical deductions and FSAs mutually exclusive?

I understand that medical expenses in excess of 10% of gross income can be deducted with a Schedule A. Can I do this even if I use a medical FSA (excluding the reimbursed part, of course)? For ...
Matthew's user avatar
  • 3,150
3 votes
1 answer
240 views

How does FSA work in case of change in employment?

I have a Dependent Care account with WageWorks from my previous company. I left my previous company in July'15. There are still $2000.00 in WageWorks account. Now WageWorks is not letting me claim any ...
Himanshu Yadav's user avatar
3 votes
2 answers
189 views

Who should claim Flexible Spending Account in a household

Suppose my wife and I both can claim FSA but the max is 5k. And suppose we both have two dependents on our w-4. The big difference is lets say I get paid 100k and she gets 50k. Who is the better ...
Tigran's user avatar
  • 287
3 votes
4 answers
1k views

Can a single medical expense be reimbursed from multiple flexible spending accounts?

My flex account has a grace period until March 15. So operations done before March 15 can be submitted towards last year's (2011) flex account or this year's (2012) flex account. But what if last year'...
Stainsor's user avatar
  • 3,397