2018 FSA Flex Acct/Medical reinbursement

[wendow]

I wish. Ours you have to submit receipt online. Sometimes even stuff with a medical necessary note get denied and I have to resubmit. I was sent a debit card but if its denied than I have to send in the receipt online. I don't want to be in line and get denied or have to resubmit it online.

Sounds like we have the same company We have to submit a receipt as well and sometimes they deny even legit expenses. We max out our account each year and use all the money within the first three months so when they deny a claim, we just move on. It's frustrating though!

 

[wendow]

Lupus meds.

Yes, just lupus meds. And yes, we max out every year.

Chronic diseases can be expensive.

We max ours out as well and use it all within 3 mos. My dd17 has chronic Lyme. Insurance covers nothing. Chronic disease is so expensive

 

[tvguy]

For atypical expenses like a gym membership, sure.

...until they do.

Exactly. But they aren't going to trigger the audio something else would trigger the audit. So you have $1,000 in HSA spending disallowed, the tax is what $200-300?

 

[kydisneyfans]

Exactly. But they aren't going to trigger the audio something else would trigger the audit. So you have $1,000 in HSA spending disallowed, the tax is what $200-300?

My parents, in their 70s, were just audited for not claiming $21 in oil royalties a company found somewhere under their property. Their entire income is social security and one pension only. It doesn't matter the amount, they were audited for around $9 in taxes, plus penalties.

 

[TwoMisfits]

Exactly. But they aren't going to trigger the audio something else would trigger the audit. So you have $1,000 in HSA spending disallowed, the tax is what $200-300?

It's not the taxes that get you in the audit...it's always the interest and penalties...

It's why I personally never try to "maximize" my tax breaks to the last dollar...I figure it makes me way less likely to get audited, and if I did, I could prove I probably should have paid a couple bucks less in taxes (thus, guaranteeing I can avoid the costly stuff...

(Now, I probably only give an extra $10-20/year...but that is so worth it to me to avoid both the legal expense, stress, and possible financial penalties of an audit, even if I'm in the salary range of the "almost never to get audited group" b/c of my luck...My mom was one of those "unlikely" but got dinged back in the 80's...she owed nothing but it was such a PITA and stress...)

 

[mjkacmom]

Ugh, for the first time in years, we didn’t do a FSA and just the HSA, it was just a pain with our high deductible insurance, we are almost done with braces, no one wears glasses. DH now needs a tooth implant!

 

[tvguy]

It's not the taxes that get you in the audit...it's always the interest and penalties...

It's why I personally never try to "maximize" my tax breaks to the last dollar...I figure it makes me way less likely to get audited, and if I did, I could prove I probably should have paid a couple bucks less in taxes (thus, guaranteeing I can avoid the costly stuff...

(Now, I probably only give an extra $10-20/year...but that is so worth it to me to avoid both the legal expense, stress, and possible financial penalties of an audit, even if I'm in the salary range of the "almost never to get audited group" b/c of my luck...My mom was one of those "unlikely" but got dinged back in the 80's...she owed nothing but it was such a PITA and stress...)

I haven't been able to itemize in 18 years. If I get audited, it is going to be VERY boring, and unproductive. All our income is from sources that report it to the penny.

 

[TwoMisfits]

I haven't been able to itemize in 18 years. If I get audited, it is going to be VERY boring, and unproductive. All our income is from sources that report it to the penny.

I'm done itemizing with my 2018 return - but I've got 1 last one this year...

 

[tvguy]

My parents, in their 70s, were just audited for not claiming $21 in oil royalties a company found somewhere under their property. Their entire income is social security and one pension only. It doesn't matter the amount, they were audited for around $9 in taxes, plus penalties.

I bet they actually were a random audit that just caught that.

 

[Alexle2007]

My parents, in their 70s, were just audited for not claiming $21 in oil royalties a company found somewhere under their property. Their entire income is social security and one pension only. It doesn't matter the amount, they were audited for around $9 in taxes, plus penalties.

Just think of all of the money wasted. The IRS employee was probably GS-12 or 13 and spent several hours wasting taxpayer dollars for $9.

 

[TwoMisfits]

Just think of all of the money wasted. The IRS employee was probably GS-12 or 13 and spent several hours wasting taxpayer dollars for $9.

I agree...and yet I get why they do it...if you don't randomly audit a few "small dollar" claims per year, you'd encourage everyone who doesn't make a certain amount to flagrantly cheat on their taxes...so you have to do a certain small number just to keep the 95% honest...since you'll focus most on the 5%...

And if that family skipped the one income source, they could have skipped a ton of similar ones on an inspection...so it's not the worst claim to go against as one of the "gotta do to keep 'em honest" returns...

 

[tasha99]

We don't do FSAs anymore. It was great for paying for braces, but my kids are grown and on their own insurance. Our expenses are too variable now, so we just skip it.

 

[punkin]

We always max out, but with 4 people, just glasses and contacts (and copays) will do it. Lol. Unfortunately, this year there may be a surgery to wipe us out.

 

[ruadisneyfan2]

I need to get my doctor to write a note that my Disney vacations are medically necessary so I can deduct those....

Don’t forget cruises too.
I need a day at Castaway Cay so so bad right now.

We started using our FSAs when our kids needed braces several years ago. Instead of both of us maxing out we just do mine for $1800. We did this last year and it was gone by September. We both got rx glasses and sunglasses.
No definite plans yet for this year but we never have money leftover.

I did get doctor notes for some OTC allergy meds & probiotics for 2017. I suppose I’ll need a new note for this year.

 

[disney212]

Crohn's disease and all its complications. Always max ours out. I have great insurance, for those whose insurance doesn't cover .

 

[jaybirdsmommy]

We max ours out. My oldest's braces have gotten the bulk of it the last two years. Those are paid off now, but my husband has a lot of health issues so copays and prescriptions usually take up most of it.

Ours is weird, they require receipts for almost everything but the only times I've ever been questioned/denied have all been hospital bills. I would think a bill paid to a hospital would be a given? But they never said a thing about the tennis elbow braces that I ordered from Amazon a couple of years ago.

 

[klynn]

We always contribute the max to our HSA but our out of pocket is always more. Last year we met our out of pocket max of $13,100 so we had to pay an additional $,5000+ to cover our medical bills. I think the contribution limits are not high enough.

 

[wendow]

Just had to add this...I made a $700 payment towards my dd's braces (paid them off). We submitted the receipt to our FSA the next day and they denied it saying they need to see evidence that the braces are 'medically necessary'

 

[dreamin_disney]

Just had to add this...I made a $700 payment towards my dd's braces (paid them off). We submitted the receipt to our FSA the next day and they denied it saying they need to see evidence that the braces are 'medically necessary'

Send picture of contract?

 

[mich311e]

I put the max $2600 in FSA this year. I usually never have an issue using the full amount. My 13 yo son has braces and those will take $1,110 of it.
I spend $600 on a chiropractic plan. That leaves $890 for other medical costs. I'm sure I'll have no issues this year.