total budget buster - I really messed up!

[Shelly F - Ohio]

No she only lost $750. She had $750 worth of medical expenses for which her cost is now $1500 (that is the $1500 you refer to). She still had to pay for the $750 worth of expenses, either way. It's not like she would have gotten that stuff for free.

Don't want you to feel any worse than you already do, OP!

If she had $750 taken from her paycheck and put into the FSA acct and now she can not submit claims to collect this money she has lost that money. But remember in order to claim the $750 in her FSA she had to have had $750 worth of medical expenses last year. So she paid for her $750 worth of medical expenses out of her own pocket and is now trying to submit those receipts in order to get the money out of her FSA. So yes she has lost $1500. because there is $750 in the FSA that is forfeited and she also paid $750 out of pocket.

 

[nowellsl]

That's why I closed my FSA account. Luckily my employer gave us the option to sign up for an insurance plan with a HRA (Health Reimbursement Account). Not only does my employer fund the account, but I don't lose the money if it's not used in 2012. It accumulates year to year. With the FSA account I was always worried about putting too much into it and losing my money - especially since you can't use over the counter purchases anymore!

 

[TifffanyD]

If she had $750 taken from her paycheck and put into the FSA acct and now she can not submit claims to collect this money she has lost that money. But remember in order to claim the $750 in her FSA she had to have had $750 worth of medical expenses last year. So she paid for her $750 worth of medical expenses out of her own pocket and is now trying to submit those receipts in order to get the money out of her FSA. So yes she has lost $1500. because there is $750 in the FSA that is forfeited and she also paid $750 out of pocket.

No, she spent $750 and lost $750. Unless you consider all medical expenses losses?

 

[sk!mom]

Wow, that's too bad and exactly why I didn't use FSA until last year when my plan offered debit cards. The debit card makes it so easy!

 

[ExPirateShopGirl]

Tiffany wins this round. The OP lost $750 pre-tax dollars. She spent $750 out of pocket for which she received $750 worth of services. Net loss of $750.

If she had $750 taken from her paycheck and put into the FSA acct and now she can not submit claims to collect this money she has lost that money. But remember in order to claim the $750 in her FSA she had to have had $750 worth of medical expenses last year. So she paid for her $750 worth of medical expenses out of her own pocket and is now trying to submit those receipts in order to get the money out of her FSA. So yes she has lost $1500. because there is $750 in the FSA that is forfeited and she also paid $750 out of pocket.

 

[MickeyMomOfThree]

That is awful, I wish you the best in the appeal. I agree in the future to submit as they come. The way ours works is really nice, as soon as I pay anything out it is submitted and within 2-3 days it is back in our account (direct deposit.) But before that we'd submit once a month, before we risked losing any receipts.

Good Luck!

 

[crashbb]

Tiffany wins this round. The OP lost $750 pre-tax dollars. She spent $750 out of pocket for which she received $750 worth of services. Net loss of $750.

Plus, using Shelley's logic, even if she had received the money from her HSA, she'd still be out $750.

$750 (out of pay check) + $750 (in expenses) = $1500

Refund = $750

Difference = $750

Anyway you look at it, the OP only lost $750 (if she doesn't win the appeal).

 

[The Pink Cupcake]

Oh my!!! I'd be on the phone immediately killing them with kindness, shedding tears and probably begging.

This! You never know. Worth a try!

My heart breaks for you, OP. Everyone makes mistakes. Don't beat yourself up

 

[SplashMo]

Our plan had a cutoff of MArch 31st this year...

 

[Keli]

OP, I am so sorry this happened. Sometimes life is overwhelming and mistakes happen. I hope your appeal is granted.
I didn't sign up for a HSA this year because of the no over the counter meds rule for 2012. That was always my fall back, if we had unexpectedly low medical bills one year I would just stock up on meds we would eventually use. Now I would just lose the money. No thanks.

 

[TifffanyD]

OP, I am so sorry this happened. Sometimes life is overwhelming and mistakes happen. I hope your appeal is granted.
I didn't sign up for a HSA this year because of the no over the counter meds rule for 2012. That was always my fall back, if we had unexpectedly low medical bills one year I would just stock up on meds we would eventually use. Now I would just lose the money. No thanks.

Do you mean FSA? Cause I have an HSA and the money definitely carries over. I have funds still from 2 years ago left in there (wiping it out pretty soon tho). I <3 my HSA!

 

[labdogs42]

That's why I love my FSA with the debit card. No need to track receipts and no forms (unless they need me to substantiate an expense occasionally). OP, you should try to find out if your FSA has one of these! Then you could just use the debit card for medical expenses and transfer the money that you would have been "reinmbursed" to a savings account. KWIM?

 

[swilshire]

I submit a claim every time I get a big "explanation of benefits" and send along all the small prescription costs. Usually we run out of funds by July or so, since I'm pretty conservative in my contribution. This year is going to be even tougher with no over the counter meds allowed, but adding the kids back up to age 26 helped. DD already had a big deductible charge.

Sheila