FSA



I didn't really think much about it when I was with a company that offered it. If it was offered at my current job I would be all over it. Wisdom really does come with age...as well as more medical expenses.
 
Fortitude said:
I just notice alot of "us" don't take advantage of it and don't care to learn about it.
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You are so right about that. However, even though we use it now, it is something that we should have done much earlier.
You know what they say....knowledge is power!
 
I don't have one now, but when we were paying major daycare cost, we put it to use.

I'm a major proponent of using them and I have had to work with co-workers to teach them how they work. When I attend health and benefit events for my customers I find many of our people don't really know how they can benefit from participating in a FSA.
 
I was paying $10K per year in daycare expenses until my twins where 6 years old. I opted to participate to the fullest ($5000 per year) in the dependent care reimbursement program at my job. I also participated ($2500 per year) in the medical reimbursement program. That was $7500 per year that the government COULD NOT TAX.

Did you know that you get reimbursed $0.35/mile for driving to your local drug store to buy over-the-counter medicine?

Its a good thing.
 
Da_Sperm said:
I was paying $10K per year in daycare expenses until my twins where 6 years old. I opted to participate to the fullest ($5000 per year) in the dependent care reimbursement program at my job. I also participated ($2500 per year) in the medical reimbursement program. That was $7500 per year that the government COULD NOT TAX.

Did you know that you get reimbursed $0.35/mile for driving to your local drug store to buy over-the-counter medicine?

Its a good thing.
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No I didn't. What line does that go on on the tax form? Tell me more. I don't know why I'm asking when I walk to my pharmacy as it's inside my company.
 
Fortitude said:
No I didn't. What line does that go on on the tax form? Tell me more. I don't know why I'm asking when I walk to my pharmacy as it's inside my company.
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It should be a line item on your reimbursement form for your FSA account. My daughter broke her ankle and she was in and out of the doctor for about 4 months. They sent us to a doctor here, there, and everywhere. I had to pay to park, but crutches, boots, etc. I bought wraps, ice, medicine and everything. I got reimbursed for everything it took me to get her foot well (medicine, boots, transportation, parking, etc.)
 
Da_Sperm said:
It should be a line item on your reimbursement form for your FSA account. My daughter broke her ankle and she was in and out of the doctor for about 4 months. They sent us to a doctor here, there, and everywhere. I had to pay to park, but crutches, boots, etc. I bought wraps, ice, medicine and everything. I got reimbursed for everything it took me to get her foot well (medicine, boots, transportation, parking, etc.)
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Oh, you mean reimbursed by FSA. I thought you meant on my taxes. :D
 

DAng Sperm, I didn't know parking at the doc's office could be reimbursed. I know some companies have parking and commuter FSA's available for their employee's. And yes, I use both of my FSA's- Healthcare and Dependent Care. Got a debit card for the healthcare part to swipe at the pharmacy and buy OTC medicine for the family. GREAT tool to use.
 
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