Those who use FSA

melissa82

FI and I are signing up to contribute in 2010, but we've never contributed to one before so we're not really sure how much to put into it. We won't have a vision plan, so I'm thinking enough to cover an eye exam/glasses or contacts (because I think I'm going to need something--my eyesight has gone downhill). What else do you use yours for? How much do you recommend putting in? Do you do the debit card option?

Mye

i use mine for vision related bills, co-pays of doctor visits or Rxs, over the counter stuff that you can use it for

 I am taking $600 this yr for the two of us

i do get the debit card, but its pain, you have to submit receipts for everything

ffbride_0813

I upped mine to $750 this year from $500 last year.  My contacts alone cost ~$400 a year.  I have done $500 every year for 5 years and have blown through it within 6 months.  Plus now my insurance only covers 80% of labs so I include some money for that as well.

wagnerdi

Last year was the first year and I was through the $350 I put in by the end of summer.  BC pills alone are $70 for 3 months, plus any over the counter medicine you buy, even suntan lotion and chapstick can be paid for with the FSA tax free. I'm uping the amount I'm putting in this coming year, feels like free money when you use the card because they take the money out weekly.

Rangergirl

I usually contribute about 1000 a year but I have a lot of prescriptions unfortunatly (three of which are not generic so they cost about 80 dollars a month ).... but the fact that you can include anything over the counter is what makes it worth it in the end... last year I had contributed a bit more than I had spent so the last few weeks before the period was up I just went and got some extra Motrin and stuff like that to make sure I got all my money back... it really is great for the co-pays and all.

I just switched insurance companies so I don't know how Blue Cross does their re-imbursements... the way I had to do it with Aetna was getting everything direct deposited right back into my bank account about two weeks after I submitted all my claims.

jess_and_paul

I put in $1000 for DH and i last year and we went through it by July!

We use it for: copayments, contact lenses, glasses, almost anything we buy at CVS, prescriptions (whatevers left over after insurance covers it), etc.

We had alot of health issues this year, so that's why we went through it so fast. Next year i'm actually putting $1500 in it.

FYI: I don't have the vision plan either, but everytime i go to the eye doctor (a real eye doctor... not someone you see at LensCrafters) i only pay my normal doctor co-pay and it's fine. This is why i don't bother with getting the vision plan as i think it's a waste!

jess_and_paul

Oh, and forgot to mention that i do use the debit card when i can, but it will only work in certain stores (CVS, Walgreens, etc) and doctors offices. Our FSA website says that not all stores will accept it, although i haven't actually had a problem yet.

uppereastgirl

I'm doing $1000 a year for mine.  That covers my prescriptions, copays at doctors' offices and physical therapy, and OTC meds and such.  I've done much less in past years and kind of regret it because I'm injury prone and keep ending up in physical therapy at $30/appointment.

Mye

I should say, for me I only take $500 because I have really low co-pays on everything, and I dont take any meds regularly, about 90% of the money is for contacts, contact solution, every 2 yrs i take a little more for a new pair of glasses

kewltif

If you don't use the money, you lose it right?

Mye

yes, you loose it
last year I bought like 5 gallons of contact solution at the end of the yr

neilly18

I have always done 1000 for myseld and now with DH I will probably do 1500 - 2000.  At the end of the year you can always stock up on Advil, band aids, contact lens solution.  I use it for eyeglasses, co-pays etc.  I also want to qualify that I have a weekly regular dr. appointment so I eat up that 1000 pretty quickly.  You can always start of low and then increase it the following year.  Once you get used to it it is a great benefit.