Do you use a Flexible Spending Account?
I've done this once in the past and ended up not using it at all....
The account is funded by pre-tax $$ and through out the year as you buy medical things that qualify, you submit the purchase to the adminstrator of the accounts and they refund your $$. I'm wondering if any of you who have a job use your FSA from work?
The account is funded by pre-tax $$ and through out the year as you buy medical things that qualify, you submit the purchase to the adminstrator of the accounts and they refund your $$. I'm wondering if any of you who have a job use your FSA from work?
Tags: Flexible, account, costs., dollars, medical, pre-tax, refund, save, spending
Replies to This Discussion
-
Permalink Reply by John on -
We do...I have it through work...this year I put $5.00 a week into it....my company also put in a $100.00 because we filled out a medical questionaire. everytime we go to the Dr and pay the co-pay we get it back until the total amount is used.
We have been told if you don't use it you lose it....so it's a trial for us this year.
-
Permalink Reply by Sylvia on -
that's absolutely true that if you don't use it you lose it. I lost almost $500 the one time I did it.
-
Permalink Reply by Jackie on -
My husband has it through his employer. We take out 2300 a year for medical. Our prescriptions automatically go to the flex account and we are reembursed in just days. We keep the money in a separate account to draw on for any medical. We always use all of it. Also use it for dental.
-
Permalink Reply by Terry Keelan on -
I use one. My wife uses one. It's a great system but since it's use it or lose it you need to be cautious at first and have a good estimate of what your out of pocket medical expenses will be.
The accounts are also available to cover childcare expenses.
Terry
-
Permalink Reply by Sylvia on
-
I think if darling hubby gets a job in the near future... we'll be getting one again. I just wondered if it's something people overlook.... use or never use.
-
Permalink Reply by Craig on -
FSA first then the HRA then Insurance covers 100%
Sounds sweet doesn't it?
Well Kinda
I pay (save 1200.00) into the FSA taken from my paycheck plus the 15.00 a week they suck out for having the insurance.. Once thats used up my employer pays the 1200.00 HRA and once that is used up.
Insurance pays 100%
I have no Co-Pay
Insuline and cholesterol meds suck up the FSA right away
Started it January and am well into the HRA.
By july I will be into the insurance payin 100% till end of year.
It's nice my employer "fronts" the FSA cash and just deducts from paycheck every week
Otherwise by March I would be pulling 1200.00 out from somewhere I don't have!
Just started the plan this year.. Seems ok to me.
Would be better to get all my scripts at walmart for 4 dollars DOH!
But sure dont make Generic Humalog or Lantus..
Although Metformine is only 4 dollars a perscription at Walmart
Tell the Dr. you want a 90 Supply and double the dose and just cut them in half!
6 mos supply for 4 dollars!
But I degress :o)
-
Permalink Reply by Sylvia on
-
Hi Craig.
I just read about the 90 day double strength doses...and cutting the pills in half today. That is a great way to save provided that the cut pills don't administer the meds too quickly.
-
Permalink Reply by Craig on
-
I know that Glucotrol XL is time released and that is what I used to take along with metformin before the insulin. The Metformin is not time released, they are very dry on the outside and have even choked on one because it would not go down or come up(geese my throat was killing on way to work that morning hehe )
But I do know what you mean about administering meds too quickly.. Some Dr.'s might not even do that for you but I know some do this practice all the time.Some even suggest it before you ask.But I am sure if they know that you are going to cut the pills they would not let you if they knew they were time released. In these economic times it sure would not hurt to ask.Specially knowing how really inexpensive these drugs really are and how much the upcharge is because an insurance company is going to pay for it. Do you think Walmart could afford to have 4 dollar perscriptions if they were as much as the insurance companies charge? With this FSA and HRA I learned a new thing.. Insurance companies barter with the price.. The Dr. says it costs this much and the insurance company says ok but , well ...we are only going to give you this much and the DR. says ok , Fair enough.. Negotiation.. Look at your FSA /HRA statement sometime!
GEEEESSSEE wish I could do that with my bills!!
-
Permalink Reply by Sylvia on
-
One thing I noticed with Walmart is that they don't always cover all the strengths of meds on their generic plan. ie: my hubby uses lisinopril for HBP... but his is not on the list for $4 script... the lower dosage is... but not his 40mg ones.
I hate Walmart anyway. Too often they have priced one thing in the paper... but the shelve price and scanned price differ from the advertised price. Also they are great ones for putting up "Roll Back" signs on stuff they have just marked up!! I've seen this a few times... personally I don't trust them.
-
Permalink Reply by Craig on
-
am into May and am totally on Blue Cross Covered now.. Only took 4 1/2 months.. before FSA and HRA were used.. Dang that insulin costs alot.. Dunno what I would do without insurance..
Advertisement
REsources
Groups
From the Diabetes Hands Foundation blog...
How do you measure the work of volunteers?
329,040 minutes, 329,040 moments so dear. 329,040 minutes — How do you measure, measure volunteers? In smileys, in tears shed, in counsel, in cups of coffee. In units, in carb counts, in laughter, in strife. In 329,040 minutes – how …Continue Reading
DHF Expands Board of Advisors
Diabetes Hands Foundation has always relied on partners and advisors to increase its understanding of the diabetes space, in order to better serve people touched by diabetes. Today this is as true as ever, as we proudly announce the expansion …Continue Reading
TuDiabetes Team
DHF STAFF
 Manny Hernandez(Co-Founder, Editor, has LADA)
|
DHF VOLUNTEERS
Lead Administrator
 Bradford (has type 1) |
Administrators
 Lorraine (mother of type 1) |
 Marie B (has type 1) |
|
|
|
|
|
|
LIKE us on Facebook
Spread the word
This site complies with the HONcode standard for trustworthy health information: verify here.
© 2013 A community of people touched by diabetes, run by the Diabetes Hands Foundation.
