Creative uses for excess Flexible Spending Accounts?

[aggie94]

Long story short: my new employer contributes $550 a month to an FSA on my behalf. Cumulatively, DH & I have $6600 a year to use or lose on health care related expenses! :eek: Given that we have good insurance benefits through his job, our out-of-pocket expenses for things like office visit copays, prescription copays, etc. are not THAT high - like $10/visit for doctors (and between us, we have maybe a half dozen visits a year) and anywhere between $10-30/month for prescriptions. And there are only so many pairs of glasses/contacts/prescription sunglasses that we both need in a year. He does go to the chiropractor on a regular basis, which is not covered by our insurance, so that helps eat up some of our FSA money, but not nearly all of it! I should make him start going more often. :D

I have suggested to DH that he might think about Lasik or some other elective surgery. :eek: ;) Seriously, though, how do I spend all this money? I hate for it to go to waste, but how often can you replenish your supply of ibuprofen and cough medicine??

ETA: If I had children, we could use it for either health care or dependent care, but I don't.

[summer02]

Do you need any dental work done? We used most of our FSA up last year on our teeth since we have health, but not dental insurance :o

[blazedog]

Have you asked whether you can get something other than medical expenses since you are covered through your husband -- sometimes employers will negotiate a flat rate in lieu of that benefit.

Other than that -- doctor prescribed personal trainer - deep tisue massages - designer sunglasses -- I had money left at Thanksgiving one year and wound up with Cartier frames. :D

[Robyn1007]

If your doctor will write a letter or prescription for vitamins they will qualify. I think the same goes for acupuncture if that interests you. I'd do Lasik in a heartbeat!

[Sarah428]

I used mine up on a bleaching system from my dentist....about $350 for custom trays and bleach for the rest of the year.

[MaryH]

Eva,

Your post made me laugh because I have the same issue - but probably not quite as much excess (a little over $1,000 at this point.) I called our eye doctor to dind out how much laser suregery is. They said approximately 2,600 per eye. :eek: That's a bit too much. I told DH that we need to use it. He smokes so I suggested getting the patch. Don't know if he will though. Dental is also a good way - but I did check to see if whitening (at the dentist office) would qualify but my plan says no, whitening is cosmetic. (I guess, unless you could get the dentist to write something stating it's "medically necessary.")

Sarah, did you have to submit any additional documentation? Does your plan say that this kind of thing is covered?

I really like the chiropractic idea. I have a friend who is a chiropractor and his place does sports massage - so I wonder if I could do that?? Has anyone filed claims for that? Do you need a medical necessity letter for chiropractic care?

Oh and btw - IRS changed the regulations and you know now have until either March 15 or March 30, 2007 to INCUR the cost. You can claim these expenses for the 2006 year.

[slknight]

As someone who is paying in excess of $12,000 a year in health care costs, I'm jealous. :o I guess you can only use so much saline though, huh?

[wallycat]

If you have allergies and Rx, you can get de-humidifiers/humidifiers/air purifiers paid for.
All contact lens solutions qualify;
Do you need dermatologist care (total body annual skin screen for cancers), acne meds/rejuvenator type stuff;
Any dental care like invisiline braces or whitening?
What about podiatry?? Any foot issues you need taken a look at? Any special shoes that would qualify?
What about allergy shots?

Here's a list (I wasn't aware that antacids and other over the counter meds qualify)

* Acupuncture
* Ambulance service
* Birth control pills
* Chiropractic care
* Contact lenses (corrective)*
* Dental fees*
* Diagnostic tests-health screening
* Doctors' fees
* Drug addiction/ alcoholism treatment
* Drugs (prescription only**)
* Experimental medical treatment
* Eyeglasses***
* Guide dogs
* Hearing aids & exams
* Injections and Vaccinations
* In vitro fertilization Nursing services*
* Optometrist fees
* Orthodontic treatment*
* Over-the-Counter (OTC) medicine and drugs****
* Prescription drugs to alleviate nicotine withdrawal symptoms
* Reconstructive surgery after mastectomy
* Smoking cessation programs/treatments
* Surgery Transportation for local medical care
* Wheelchairs
* X-rays

*To be eligible for reimbursement, some treatments, prescription drugs or services deemed cosmetic in nature require written proof of medical necessity from your healthcare provider.

** Not all drugs requiring a prescription are approved by the IRS as eligible for reimbursement.

*** The effective date for glasses and prosthetic devices is the day the item is available to be picked up, not the date ordered.

****Not all OTC's are eligibile for reimbursement. Some eligible drug categories include: antacids, pain relievers, cold and allergy medicine, nicotine gum or patches

[eas11]

You can use it for OTC products- vitamins, cold meds, "medicated" creams, lozengers, 1st aid supplies, advil, etc. I got a list from my employer-there are a lot of product catagories covered.....but with 550 a month? That would put the whole neighborhood on vitamins! Since your DH see's a chiro can he perscribe a gym membership ;) I think massages may be covered as well.

Otherwise....if you must spend it and have nothing else to use it on, maybe consider buying OTC products for a womans shelter or homeless program?

[Robyn1007]

Otherwise....if you must spend it and have nothing else to use it on, maybe consider buying OTC products for a womans shelter or homeless program?


Now there's a creative use, I like that one! :)

[Kathy B]

You can use it for over the counter medications, but I don't believe you can use it for vitamins. Better check on that. Prescription vitamins, of course, would be a different category.

I don't know about a gym membership, but on the other hand, if the doctor prescribes an exercise regime, it might pay for some exercise classes at the YMCA or something similar. Doesn't hurt to ask.

[Pony]

I get hourly massages once every other week for my scoliosis. My doctor wrote me a letter so FSA will cover it. My coworker gets an hourly massage every week for her TMJ. Something to consider!
Michelle :)

[Robyncz]

Dang. Sign me up as your domestic partner and I'll come have Lasik. . .

How frustrating, though, to know that money's there and have to scrounge around for ways to get to it. I hope you guys come up with a great use!

[misskitty100]

MASSAGES!!!!!!!!!!!!

Some day spas are even connected into the insurance network so check into that and you could have a nice massage and hang out in a day spa too.

[MaryH]

Dang. Sign me up as your domestic partner and I'll come have Lasik. . .

How frustrating, though, to know that money's there and have to scrounge around for ways to get to it. I hope you guys come up with a great use!


I thought I read that the program I have (in Ca.) doesn't cover domestic partners, but then again this is Ca. and if there is any place where domestic partners would be covered, it would be here. :)

As for gym memberships, typically they are NOT covered, but if your doctor writes a letter explaining the medical necessity, it may be possible.

[mbrogier]

How about your very own cat scan machine? :p

I'd get one of those cool in the ear thermometers. That would burn up $30-$60.

[Clover]

Years ago, I was being treated for acne, and my doctor (I think PCP, not dermatologist, but not sure now) recommended monthly facials. I had enough medical expenses at the time for an income tax deduction, so I asked her to write a prescription for it and she did. Have any skin problems?

[jmarie]

Nip/tuck...Any cosmetic surgery you've been contemplating?

DH used it for hearing aids.

We have used ours for the multitude of reasons already explored, here.

[LakeMartinGal]

As someone who is paying in excess of $12,000 a year in health care costs, I'm jealous. :o I guess you can only use so much saline though, huh?
Ditto! It's amazing how much you can pay, just in insurance premiums, when you have to buy individual policies! :eek:

You can get electro-stim machines for muscles, as well as automatic BP cuffs... how about an AED? :)

[Escher]

Get a "professional" sex therapist.

[Robyn1007]

Get a "professional" sex therapist.

You're just itching to get censored again aren't you? :p

What about microdermabrasion or something from your dermatologist (if needed)? Is that covered?

[ClaraB]

Nip/tuck...Any cosmetic surgery you've been contemplating?
FSA's don't usually cover cosmetic procedures, unfortunately.

[DanaSD]

I'm considering lasik too as we have money left in ours.

I do get massages through our chirop's office and they're covered!

You can also deduct millage and parking expenses when you do visit a doctor's office - not much but it will help.

[SusanMac]

While I completely emphathize with you, I just have to say that our entire healthcare/insurance/medical system is completely messed up !!

Signed,
Self-insured individual who is desperately afraid to ever get sick!!

[donleyk]

On the other hand... I wouldn't go hog wild. I was covered thru DH's employer but now they are starting to charge an additional $23-28 a pay check (every 2 weeks) to cover a spouse eligible for medical coverage thru their own employer.

I have to agree with SusanMac, things are a bit messed up.

[blazedog]

While I completely emphathize with you, I just have to say that our entire healthcare/insurance/medical system is completely messed up !!

Signed,
Self-insured individual who is desperately afraid to ever get sick!!

Given today's report on the increase in health insurance premiums -- and the growing percentage of people who can't afford health insurance, it's an obscene system in which someone has to post on ways in which to "waste" medical coverage.

This is NOT intended to malign the original poster - merely to comment on an obscene system in which the "haves" who are employed by major corporations willing to subsidize the cost can have completely free non-necesary medical procedures while a growing number of Americans either has no coverage or incredibly expensive coverage -- both in real dollars or as a percentage of their income.

[aggie94]

Oh, I am most definitely aware that I am lucky to have this "problem," and that there are a lot of people out there without healthcare insurance, much less insurance AND boatloads of excess cash to spend. I am not complaining.

Thanks for all of the suggestions. DH does get a deep tissue massage when he goes to the chiro. I might just have to start sending him more often than once or twice a month. The bigger problem is time. I would go myself (and my doc has recommended it) but time is an issue. And I am generally a pretty healthy person, so a lot of the suggestions are probably not things I could get my doctor to "prescribe" for me.

I hadn't thought about dental, but I have talked with my dentist in the past about braces or straightening, since it is something I should have had done as a child but didn't. Maybe I will look into that next year.

I have asked whether there is any alternative the employer would consider to dumping all this money into an FSA, but they said no. I figure I will use it during the year as needed and come the end of the year, if there is a lot leftover, I will ask about donating it to someone else in the office or just find a way to "waste" it at the end of the year. I would hate to do that too early in the year, in case something unexpected came up during the year.