HSA Flex Spending Account

[Thirteen]

We have one (a card), and it's full for the year with our max contribution. We basically forgot about it until now, and have already paid all medical bills from DS2's birth in full.

Can we legally extract the money and pay ourselves back, using the paper trail from insurance as proof?


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[scrub-jay]

Contact your administrator, some let you submit claims for reimbursement. Each one has a different process to follow.

[spotty_dog]

Is it an HSA or FSA?

I'm assuming that it's a flexible spending account (probably funded by the employer and/or payroll deductions) rather than a health savings account (funded by you with money offset by having a high-deductible healthcare plan.)

From the IRS: "You must provide the health FSA with a written statement from an independent third party stating that the medical expense has been incurred and the amount of the expense. You must also provide a written statement that the expense has not been paid or reimbursed under any other health plan coverage. "

[Thirteen]

Thanks! I am in the process of obtaining a med reimbursement form for the whole shebang.
I guess it is an FSA (?)

So much paperwork -- I need to organize all this.


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[scrub-jay]

If it's an FSA, it's use it or lose it, so it's definitely worth pursuing the reimbursement.

[spotty_dog]

If it's an FSA, it's use it or lose it, so it's definitely worth pursuing the reimbursement.

Except you might have a two-month grace period and/or a $500 carry-over for the next year, so maybe check the paperwork from your employer/FSA administrator?

[scrub-jay]

Except you might have a two-month grace period and/or a $500 carry-over for the next year, so maybe check the paperwork from your employer/FSA administrator?

Yep! I've had employers that carry it out to the following June. I've also had ones who've carried it to March and others who closed it 1/1.

[Thirteen]

They say March 15th


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[alotofyarn]

Usually you can just submit receipts and get reimbursed. I've done that for things where I forgot to take the card with me.