Using up the FSA

mamakate1616 · October 2015

Hey ladies, this is the first year my husband and I have had an FSA. We opted in last season when I was expecting a LO in August to use up all the funds.

Unfortunately I had a MC and we haven't used any of the $1500 in the account. I am happily now due Jan 8th but likely won't have any bills to use the FSA funds on.

Any recommendations for things to buy? I'm thinking maybe a massage, breast pump, and new glasses for hubby and I. He is also thinking of fully stocking a first aid kit and I think we can use it to pay for any birthing classes we sign up for?

I'd love to use it for an elective ultrasound but don't think that's covered.

TIA for any input!

Unknown · October 2015

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mamakate1616 · October 2015

I have to do some more research but when I looked the first time it would cover a rental electric but not a purchase. :-/

Unknown · October 2015

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slstickn84 · October 2015

Check with your employer to see what their grace-period is. Most employers allow up to 75 days into the new year to use any unused portion of your FSA. In that case, you'll be able to use it toward the birth of the baby.

Parker16772 · October 2015

Lurking here...

What the PP said. I have until March 30th of 2016 to use my 2015 funds so def check with your employer you might still be able to use it for some of your hospital bills.

slstickn84 · October 2015

Also, your insurance should cover a breast pump at 100% (thanks, Obama!). But, you can use your FSA to upgrade to a fancier model.

ashs88 · October 2015

Same as PP's, check to see if you have a grace period. Mine goes through March so I am definitely planning on using my 2015 money for when baby is born. If you don't have a grace period or if you still have some left after the birth, we typically use any extra we have on glasses and contacts. You can also use it on prescription sunglasses. You can use up the money pretty quickly with nice eyewear!

mamakate1616 · October 2015

Hmmm. I work for the federal government and know I can roll a portion of it into next year but I didn't see anything about a grace period, that would be cool. And I know my insurance "100% covers" a pump, but it's of the variety I would have to return which I am not a fan of.

ETA: thanks for the comments so far everyone!

VitaLuna · October 2015

Lurking. Check about rollover. My plan allows $500 rollover year to year (which is new). I'm not sure if it's that way for everyone.

brushesnbrunch · October 2015

Another lurker. Double check with your HR department in regards to what you can and cannot use your FSA funds on. I'm not sure birthing classes are covered, but they very well could be.

deedeecmc79 · October 2015

Talk to your OB and ask if there is any copay you can get out of the way now?!

Wicked4589 · October 2015

As a reminder you can't just go buy meds at the pharmacy and use your FSA. You have to have a script. Even for things like a bottle of Tylenol.

slstickn84 · October 2015

To clarify about rollover vs. grace-period:
This is something that varies from employer to employer. The law allows for an employer to offer a grace period of up to 75 days to use any unused funds OR (but not both) to offer a $500 roll over that can be used at any point during the next year (the roll over portion is new as of this tax year). Your employer is not obligated to offer either, but they may.

Childbirth education classes are definitely covered. But, for reference, here's a full list of covered expenses: https://www.wageworks.com/media/254680/3219-HCFSA-ELIGIBLE-EXPENSE-FLY.pdf The covered expenses do not vary by employer, the are determined by the feds.

Blueyedsky · October 2015

If you don't have a rollover, consider Lasik! It might not be enough, I have looked up recent prices, but would be awesome!

savvyfitchica · October 2015

Hi! I just posted about this on my Facebook page where I share money tips & tricks. (Here's the link: https://www.facebook.com/fiscalfitnessphx/posts/1021656701191625) OR you can read what I wrote here:

"MONEY TIP: Do you have a new baby or are you expecting? Do you breastfeed? Did you know that most baby care items (thermometers, sunscreen, nose suctions, etc) as well as breastfeeding supplies (the pump but also accessories and storage) can be paid for using a Flexible Spending Account? By putting the money into an FSA FIRST, you could save money on taxes by getting a deduction for an expense you otherwise wouldn't! Some items that may surprise you include overnight training pants for baby, prenatal vitamins, diaper creams or powders, teething gels, and even certain formulas."

stephanienjer · October 2015

You're sure you will lose it if you don't use it? I know if it's taken out pre-tax, it's one way, and if it's after taxes, it's another. Additionally, if your employer puts in any toward your account, that can also be taken differently.

I used up the last of mine on glasses last year. I now have four pairs that I change out. Why get stuck with the same pair every day? I don't wear the same shirt every day! Husband need prescription sunglasses? Now's the time! Also, any dental work you've been putting off because of the expense? My prenatal vitamins are covered, too, so you might stock up for while you're nursing.

Some accounts approve humidifiers and air purifiers. Childbirth prep classes, too, are covered often.

I have about $400 left (and still growing), and plan to use that with a chiropractor to alleviate some of my sciatic pain.

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Using up the FSA

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