Comments on: A 3 Step Guide to Planning Flexible Spending Account (FSA) Contributions

By: Knock Knock Jokes

Knock Knock Jokes — Thu, 19 Jan 2012 05:22:06 +0000

A 3 Step Guide to Planning Flexible Spending Account (FSA) Contributions
| You Have More Than You Think I was recommended this website by my cousin. I’m not sure whether this post is written by him as nobody else know such detailed about my difficulty. You’re amazing! Thanks! your article about A 3 Step Guide to Planning Flexible Spending Account (FSA) Contributions
| You Have More Than You Think Best Regards Nick Lisa

By: unpanknop

unpanknop — Thu, 19 Jan 2012 05:04:34 +0000

FXBARWCRCE ugg sale WPMAIMXIPD http://www.sheerchaos.com

By: Jim Hayes

Jim Hayes — Thu, 21 Jul 2011 04:02:40 +0000

Great overview of how to make an FSA election! Have you covered Dependent Care FSAs before? If not, send me an email and I can provide details for another post.

By: TheyCallMeCheap

TheyCallMeCheap — Thu, 03 Mar 2011 20:37:45 +0000

He leaves the company without owing his former employer a thing. Imagine the reverse. His employer keeps the contributions he made to the FSA plan if he doesn't use the balance up before he leaves.

By: estela

estela — Thu, 03 Mar 2011 20:28:38 +0000

If the employee is allowed to use the amount set aside for the entire year at the
beginning of the plan year, what happens if he leaves in the middle of the plan year and has used up the entire amount but only had 1/2 of it deducted from his paycheck.

By: Ben Griffiths

Ben Griffiths — Fri, 09 Jul 2010 06:56:21 +0000

everyone should know about good financial planning becuse it can give you more success.*:~

By: How NOT to Lose Your FSA Money

How NOT to Lose Your FSA Money — Fri, 05 Feb 2010 00:41:42 +0000

[...] few months ago, Shawanda wrote an article about Flexible Spending Accounts. She was a little upset, because it didn’t garner much traffic, but FSAs are a little [...]

By: 85% Savings on a Name Brand Product Purchase?! I’ve Outdone Myself.

85% Savings on a Name Brand Product Purchase?! I’ve Outdone Myself. — Wed, 23 Dec 2009 02:23:19 +0000

[...] already know I meticulously planned my health care FSA (Flexible Spending Account) contributions for 2009. However, I’m still prone to procrastination. I don’t want to risk losing a [...]

By: TheyCallMeCheap

TheyCallMeCheap — Sat, 05 Dec 2009 00:24:14 +0000

The unused money stays with your employer. Remember you could theoretically take out more money than you put in under a health care FSA.

Here's what IRS Publication 969 – Health Savings Accounts and Other Tax-Favored Health Plans says:

"You must be able to receive the maximum amount of reimbursement (the amount you have elected to contribute for the year) at any time during the coverage period, regardless of the amount you have actually contributed. The maximum amount you can receive tax free is the total amount you elected to contribute to the health FSA for the year."

If you commit to contribute $1,000 during the plan year for a health care FSA, you could theoretically use $1,000 on January 1st, and quit your job on January 2nd. You may not have even been able to make any contributions to your FSA by January 2nd.

There will be some people who resign before they're able to repay the money they used and there will be people who can't use all the money they put in.

I'm not sure why our government does this to us. Maybe it's to keep us from deferring the payment of taxes. Maybe they want to deter us from maximizing our tax savings. Or maybe, they're just evil.

By: Jijo

Jijo — Fri, 04 Dec 2009 22:07:53 +0000

Do you have any idea who gets this unused money? I have no clue why would the government would make up this cruel plan to test their citizens.