Healthcare flexible spending account

[kdonnel]

Apparently this year I have an infinite balance in my FSA account.

I elected to have $2500 put in the account this year and have paid for prescription refills, doctor co pays, contacts, eye glasses, etc. My balance remains $2500.

I called the company today to have them look into the issue but the not so honest part of my really thinks I should have just paid for every and all purchases using the card, but the more honest part of me knows I would eventually have to pay it all back.

At some point some sort of audit would notice.

In the meantime I have a credit card with no limit at my disposal.

 

[slo]

I have several medical bills that I have on a budget plan - I’d be happy to give you some to pay off with that magical nondeducting balance

 

[slo]

In all seriousness….they will figure it out and they will hold you accountable. I deal with medical insurance for work every day and they have no issues putting you under the gun when THEY make a mistake.

 

[LuvOrlando]

There is one big way this can hurt people a lot. Usually these accounts should just refuse once it hits max leaving the rest for alternate payments and business offices just put the total in, no-one ever does partials because of this protection. So let's say someone has a big surgery or dental work and this absorbs all of it in error, maybe 5K and they only selected 1K. The person might have a very tough time paying it back since these accounts probably only want cash and may refuse credit, which might be nearly impossible if a procedure runs out of reach and the person expected to offset with credit cards or a payment plan so now they have double the debt, they need to pay the facility and also need to pay back the account.

I'd send emails to prove a paper trail and try to spread the word of the audit firm on blast so other people can take steps to avoid trouble, could be they were hacked or invaded in some way since this is a serious.

 

[kdonnel]

I could be a modern day Robin Hood.

Pay off the entire countries medical debts.

 

[GAN]

Apparently this year I have an infinite balance in my FSA account.

I elected to have $2500 put in the account this year and have paid for prescription refills, doctor co pays, contacts, eye glasses, etc. My balance remains $2500.

I called the company today to have them look into the issue but the not so honest part of my really thinks I should have just paid for every and all purchases using the card, but the more honest part of me knows I would eventually have to pay it all back.

At some point some sort of audit would notice.

In the meantime I have a credit card with no limit at my disposal.

Go for it! LOL