Disney Information Station Logo

Go Back   The DIS Discussion Forums - DISboards.com > Disney Trip Planning Forums > Budget Board
Find Hotel Specials & DIScounts
 
facebooktwitterpinterestgoogle plusyoutubeDIS UpdatesDIS email updates
Register Chat FAQ Tickers Search Today's Posts Mark Forums Read





Reply
 
Thread Tools Rate Thread Display Modes
Old 10-05-2012, 01:15 PM   #31
FlyingBelle
Official Tag Fairy Underwear Designer
"MacGyver's" her bras with duct tape and toilet paper
Frutty Pebbles doesn't taste the same with ranch dressing!
 
FlyingBelle's Avatar
 
Join Date: Jun 2006
Location: Chicagoland
Posts: 1,771

I have 3 accounts that I use - the rules probably vary state, insurance plans, and company - so have a discussion with your benefits contact!

HSA - Health spending account
I use this primarily to cover co-pays for my family's doctor, dentist, and eye visits, as well as co-pays for prescriptions. I figure out how many well-visits each family member needs (I have a baby, so he goes for about 4 a year), as well as a few emergency room co-pays (that's $100 a pop!), and put a little cushion for miscellaneous. This year it covered DH's glasses. I always come up a little short than what I planned for - but that's ok because it's better than having too much. My insurance changed this year - so doctor co-pays and prescription co-pays automatically get reimbursed to my checking account, but I have to pay for them up front. For the glasses - I had to fax the information in and wait a few weeks for reimbursement.

FSA - childcare
This works great to cover pre-school costs! I pay upfront each month, and every quarter I submit the receipt for reimbursement.

FSA - commuter benefit
I take a train to work everyday - so my workplace has a commuter benefit flexible spending account - this is saving me over $1200/year! For this one I get a debit card that gets loaded each month with the cost of my train ticket, taken out of my check pre-tax. Then I just buy my ticket with the debit card. If I had to pay for parking, it would cover that too (I get dropped off at the train). It's flexible enough that I can change the amount if I'm going to be on vacation or something and only want to purchase a 10-ride instead of the monthly pass.
__________________
Many times as a child | Fort Wilderness Campground 1996 | Off-Property Mar 1999 | CS May 1999 | ASSp Aug 1999 | Dixie Landings Jan 2000 | Dixie Landings Feb 2001| WL Feb 2002 | Disney Wonder Cruise Jan 2003 | WL Sep 2004 | Swan Feb 2005 |WL Oct 2005 | POR - Aug 2006 | WLV - Jan/Feb 2007 | WL Family Trip - Sep 2008! Bella's first trip to Disney! | Buena Vista Suites - Dec 08 | Disneyland - Nov 2009 | Disneyland - June 2010 | POP - July 2010 Disneyland - October 2010 | ASMu & Disney Wonder December 2010 | ASMu Jan 2011| Disneyland Sept 2011 | ASMu Jan 2012 | No Kids Trip! Pirate room at CB - Mar 2012| Disneyland - April 2012| Disneyland - July 2012| Disneyland - August 2012 | ASSp - September 2012| Disney Dream 3 night cruise - Nov 2012 | Split-Stay: AKL - Feb 2014/ASMo - March 2014
FlyingBelle is offline   Reply With Quote
Old 10-05-2012, 02:13 PM   #32
drinkme
DIS Veteran
 
Join Date: Mar 2008
Posts: 1,168

Quote:
Originally Posted by lisaross View Post
I used mine for the Ortho this year for my son. I am on a payment plan and pay 100.00 per month so i knew for my FSA account that i would be spending atleast 1200 on visits. I have a debit card from the FSA and each month i use that to pay at the visit. The first few times i needed to send in the receipt but not anymore...

For 2013 i will find out how much i still owe and be sure to take out that much for the year plus other dr. visits medicine etc.
This is exactly how mine work with ortho.

Always keep your receipts. I never have been asked to submit a receipt for doctor office copays, but I always have to submit receipts from the dentist.
drinkme is offline   Reply With Quote
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 10-05-2012, 02:34 PM   #33
tasha99
DIS Veteran
 
Join Date: Aug 2006
Location: Oregon coast
Posts: 3,488

How convenient your plan is depends on how it's set up. My plan has no debit card--I have to save receipts and fax them in. Also, unlike some other posters, I can't get reimbursed for the money until it's been taken out of my paycheck. As long as the expense is covered in the right year (mine goes July to June), it can be reimbursed, but I have to wait till the money has been pulled.
tasha99 is offline   Reply With Quote
Old 10-05-2012, 04:12 PM   #34
pgumiela
Disney addict and not ashamed to admit it
 
pgumiela's Avatar
 
Join Date: May 2009
Location: Too far from WDW
Posts: 102

I'll be honest I hate my FSA account and will not be signing up for it again in 2013 I will just have $100.00 per paycheck put into my credit union account. It is great that it's a pretax deduction, and I love that on January 1st I have the whole amount that I pledged to put in. And sure it's really convienent that I have a card that I can just swipe.

But here's why I hate it... it's a federal regulation that every so often the company that controls your FSA account has to require a receipt or EOB for what you used the card for. That's cool, I can do that, my company even lets you send it in online or fax it. However, three of the ones that I sent in this year they have declined for various reason. These were doctors appointment! I did not go to walgreens and spend $1000.00 on cold medicine, I had surgery on my wrist, and used my card for the doctor bills. And they are saying that I either overpaid (2 of them I had to go to my Doctor and dispute the charges ), or for my dentist appointment they said that I needed to send the part that I used my card for through my helath insurance. Seriously? So now I have not gotten back to them fast enough... and now my FSA card is frozen and I can't use it to pay for my remaining hospital bills!!!

So yes they are great for some things, but beware of getting those charges that you need to reconcile taken care of or they will freeze your account.
__________________
me DH DS12 DS7

Boo I have no ticker... I do have plans for a ticker though

September 2013 Coronado Springs, November 2012 Pop Century, May 2012 Camping at the Fort, Sept 2011 All Star Music, Dec 2010 All Star Music, Sept 2009 Pop Century, Sept 2008 All Star Music, June 1996 offsite, numerous times in the 80s
pgumiela is offline   Reply With Quote
Old 10-05-2012, 06:28 PM   #35
QueenElinor
Yes, they really ARE all redheads!
 
QueenElinor's Avatar
 
Join Date: Aug 2012
Posts: 480

Quote:
Originally Posted by mistysue View Post
That makes a lot of sense, must be why they dropped that max. Especially with the higher percentage of income spent required to be able to deduct medical that is going to raise tons of money. Even just your family, and if we assume a 15% tax bracket after adding SS that is $675 in taxes. Now do that a million times.
I think that's right. It used to be one could deduct out-of-pocket health care expenses if they exceeded 7.5% of one's income, that is going up to 10%. Between that and cutting the amount that can be set aside in an FSA, some sick people are definitely going to be paying higher taxes.
__________________
December 2012- Yacht Club
2011-Disneyland Paris (okay, not really- the Eiffel tower won out- but we thought about it!) 2009-Disneyland Marriott
2007- Old Key West 2004- Marriott Sabal Palms 2002- Marriott Imperial Palms 1999- Westgate Vacation Villas 1997- Westgate Vacation Villas
QueenElinor is offline   Reply With Quote
Old 11-15-2012, 02:08 PM   #36
Kdouglas
Earning My Ears
 
Join Date: Nov 2012
Posts: 11

Quote:
Originally Posted by SC Minnie View Post
We can also use ours for dependent care such as child day care. Some people here have used the FSA for Lasik surgery and the amounts not covered for glasses or dental work if they knew those expenses were going the be coming.

As zurgswife said be mindful of how much you decide to put in there. If you have anything left at the end of the year you lose it. It doesn't roll over and you can't get it back.
We max ours out every year and used it for childcare before I started working from home and now we use it for doctor visits and glasses if we need them. If you're afraid of the use it or lose it rule just make sure you watch what you'll be spending. Anything we don't spend by the end of the pay period we'll blow through on http://fsastore.com/ on non-perishable items. I definitely suggest you tale advantage of it. Your FSA can save you a TON of cash if you do your homework.
Kdouglas is offline   Reply With Quote
Old 11-15-2012, 05:15 PM   #37
SplashMo
DIS Veteran
 
SplashMo's Avatar
 
Join Date: Sep 2010
Posts: 1,235

We had an FSA which could be used for most everything. This year however we have an HSA and FSA. Now the FSA can only be used for dental and vision. You just need to read te plan before signing up and it is use or lose...
__________________
Spash Mountain!!!!
SplashMo is offline   Reply With Quote
Old 11-15-2012, 05:41 PM   #38
vicki_c
DIS Veteran
 
Join Date: Dec 2007
Location: Maryland
Posts: 23,390

Quote:
Originally Posted by SplashMo
We had an FSA which could be used for most everything. This year however we have an HSA and FSA. Now the FSA can only be used for dental and vision. You just need to read te plan before signing up and it is use or lose...
I never heard of an FSA that cold only be used for dental and vision. I thought the IRS set the rules on eligible purchases.
__________________
June 1978 - Poly / Nov 1996 - Yacht Club / Jan 2001 - Poly / Jan/Feb 2004 - Wilderness Lodge / 2004-2006: Animal Kingdom Lodge, Nick Hotel, Caribbean Beach, Port Orleans Riverside, HI Sunspree, Buena Vista Suites, Caribe Royale / Jan 2008 - Poly / June 2008 - Saratoga Springs and Villas @ Wilderness Lodge / Nov 2008 -Boardwalk Villas / Dec 2008 - WL, Beach Club Villas and Beach Club / June 2009 - POFQ and Poly / Jan 2010 - AKV, 4 night DCL & BCV / Nov 2010 - POFQ / April 2011 - SSR / Nov 2011 Swan / Jan 2012 - BC/ April 2012 OKW / April 2014 AoA & AKV
vicki_c is offline   Reply With Quote
Old 11-15-2012, 05:58 PM   #39
thumbalyna
DIS Veteran
 
thumbalyna's Avatar
 
Join Date: May 2006
Location: Scranton, PA
Posts: 801

There is a healthcare fsa, a dependent care fsa and there is also a hsa. Depending on what kind of medical plan you have determines if you are eligible for a hsa. If you aren't you can use your healthcare fsa for any eligible medical expense. There is a limit of 2500 that you can contribute per year.
__________________
me DD(18)
Past Trips:1981 Off Site -1987 Off Site - 1996 AS Sports - 1997 Howard Johnson Enchanted Land - 1998 Celebrity Resorts - 2001 Westgate Towers and HRH - 2007 Sheraton Vistana and HRH - 2008 Parkway International and RPR - 2009 AS Sports - 2010 Westgate Vacation Villas
thumbalyna is offline   Reply With Quote
Old 11-15-2012, 06:04 PM   #40
lilpig
Mouseketeer
 
lilpig's Avatar
 
Join Date: Nov 2011
Location: Ohio
Posts: 138

We hate are ours. We are not signing up next year. If you don't use the money in the account you loose it. Unless you have a health savings plan that is completely different.
__________________
6/96 All Star Music
3/12 POR
lilpig is offline   Reply With Quote
Reply



Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

facebooktwitterpinterestgoogle plusyoutubeDIS Updates
GET OUR DIS UPDATES DELIVERED BY EMAIL



All times are GMT -5. The time now is 10:09 AM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

Copyright © 1997-2014, Werner Technologies, LLC. All Rights Reserved.