Ever since they came into being, my husband and I
have had a flexible spending account (FSA). On the surface it might seem like a
god-send, being able to sock away a little pre-tax pay for the sole purpose of
medical expenses, especially when dealing with the unpredictable costs of
chronic illness. Well not so fast! As these types of accounts have morphed and mutated,
so have the rules and regulations. So much so that managing our FSA account has
become my part-time job!
When
Your Money Isn’t Really Your Money
Even though it is my husband’s pay, the government
retains the right to dictate how he can spend this “tax free” money because
(technically) some of it is theirs. Any time we use the funds we are required
to submit supporting documentation and hope and pray our claim will be approved.
If not approved, the FSA gods want the money back, immediately! Oh and our account
has no roll over, it’s “use it or lose it.”
Deciding how much moolah to put in the account is
a crap shoot. Yes, there’s a handy-dandy expenditure estimating tool but its
rubbish. Co-pay and deductible amounts change from year to year and I can never
be 100% sure what tests any of my specialists will order. Most years we have easily
spent all funds before the benefits year is up. This past year we ended up with
an unexpected surplus that had me scrambling to unload it before it disappeared
into the abyss.
Lose
Money? Not On My Watch!
I take managing our FSA very seriously. Mainly
because I am the one generating the majority of the medical bills and I would
blame myself for any loss of money. I also consider it my duty to get our monies
worth and have become quite adept at stretching a penny.
A surplus?! This was new territory for me, how was
I to spend a lot of FSA money in a short amount of time? I consulted our card’s
website for guidance (because going all willy-nilly at the drug store is
frowned upon.) As I reviewed the generic list of approved items, I noticed one
called “first aid supplies” I could only guess what the hell that meant. It had
to mean more than Band-Aids, right? Intrigued, I called the toll-free number.
I asked for a definition of “first aid supplies”, the
representative was as vague as the website. I was instructed to go to a different website and there I would find
the Promised Land, all of my FSA questions answered. I could even buy stuff
without a hassle, oh joy! This sounded too good to be true and you know what
they say about that.
FSA
WTF
The website was super fun. The majority of items
were shamelessly overpriced, I’d need to open an account if I wanted to make a purchase,
and of course I could not find a definition for “first aid supplies.” And to
make things extra entertaining, some purchases require a script from your doctor
while some don’t. And it is NOT intuitive! Denture cleaner- Can be
purchased with FSA funds and no script. Toothpaste- That’s a no-no, don’t
you dare think about using FSA money! Tums- A doctor’s prescription is
required! What a waste of a physician’s time!
Feeling my head throb and my frustration growing,
I bit the bullet and clicked on the live chat tab. “What are first aid supplies? Can I buy hydrogen peroxide, isopropyl
alcohol, or Neosporin with FSA monies and no script?” After a bunch of
canned text pleasantries from ‘Sammie’ I received an answer. “Prescription required.” GTFO!
Outcomes
and Lessons
If you know me, you know I don’t give up easily. I
kept digging and discovered some of my past Amazon purchases qualified as FSA
eligible. I logged into my Amazon account and downloaded my invoices for those
items. I then logged into my FSA account, created several claims, uploaded the
invoices, and submitted them to the FSA gods. A few days later, everything was
approved and I was reimbursed. Boom! It wasn’t enough to spend all the funds
but it took care of a big chunk.
Over the past few weeks I spent a good deal of
time on the computer and phone that left me feeling anxious, frustrated, and irritated.
Not the most enjoyable combination of feelings. Good news is, our new benefit
year starts today and the FSA card will be reloaded. I get a clean slate and a
chance to do it all again!
This time around I plan on utilizing the account
as I always have AND I will make a thoughtful effort to save all extra eligible
receipts. If for some reason we have another surplus of money, I will be ready!
Until we meet again FSA.
