A few months ago, I told you that you can use FSA dollars on your account even if you haven’t contributed that money yet. Well, when I wrote the article, I was closing in on a new job offer, which I eventually received and accepted.
Back in 2008, I elected $900 for 2009, but I didn’t know at the time I would be getting a new job, much less looking for one. When I found myself with about $600 still sitting in the account and $hundreds in medical bills coming in, I opted to use it up.
Always save your receipts…
because your FSA provider can always demand written proof or else require repayment of the expense…out of YOUR pocket. Health insurance becomes much less reasonable if you don’t keep a good accounting of your expenses. We had hundreds in bills from medical tests for Stacie, needles in my back, and new eyeglasses for me, and in the rush I opted to pay by phone. I got receipts mailed for most of the payments, but not for all, and now both my old and new FSA providers are asking for written proof for many of those payments.
Luckily, I have all the requested receipts and statements except for one of about $150. I’ll have to call the doctor’s office and hope they cooperate to send the statement (some aren’t very helpful or cooperative for some reason).
So the lesson here is that you need to save all receipts, statements, and check copies as proof of both services rendered and payment for those services. If you don’t, and can’t get the health care provider to issue a receipt, fully expect to pay it all back to your FSA.
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