new years eve changes.....new UPDATE post #21.

[mistymoney]

Used to be all about the party! the clothes! Maybe even some handsome stranger.... **


Now....furiously spending online to try to use up my limited FSA dollars.....

Bought new designer glasses...more than one pair, and various lens cleaning paraphernalia. Since it is limited purpose, I can't think of anything else. Toothpaste and dental floss don't count...for the FSA anyway...

apparently - even OTC tooth whitening not eligible...

Any ideas?

[Captain FIRE]

HAHA

I read this immediately after using up my $300 wellness benefit.

Bandaids and sunscreen count for FSA. Also contact solution if you have contacts.

[mistymoney]

HAHA

I read this immediately after using up my $300 wellness benefit.

Bandaids and sunscreen count for FSA. Also contact solution if you have contacts.

:)

My FSA is limited purpose because I have an HSA, so can only be used for dental and vision - but nothing routine dental. How is lens cleaner for eyeglasses covered, but not dental floss and toothpaste? Nor waterpik nor tooth whitener? Who makes this shit up?

Anyhoo - good idea for anyone with regluar FSA to get the bandaids and sunscreen......

[mistymoney]

Also supercool, all the places I visited tonight, frames direct, fsastore, and EXcontacts, all sent me a beautiful email with order details for reimbursement, so hope it all works out.

[reeshau]

HAHA

I read this immediately after using up my $300 wellness benefit.

Bandaids and sunscreen count for FSA. Also contact solution if you have contacts.

:)

My FSA is limited purpose because I have an HSA, so can only be used for dental and vision - but nothing routine dental. How is lens cleaner for eyeglasses covered, but not dental floss and toothpaste? Nor waterpik nor tooth whitener? Who makes this shit up?

Anyhoo - good idea for anyone with regluar FSA to get the bandaids and sunscreen......

If you have spent your HSA money, (equal to this year's contributions) you can get the limitations lifted.  Of course, too late for that now.

I did that for a few early years with HSA's, before I had good options to invest it.

[Zikoris]

You're doing better than me, I'm staying up arguing about budgets on Reddit.

[mistymoney]

You're doing better than me, I'm staying up arguing about budgets on Reddit.

haha!

I think I'm going to make myself a nice bubbly drink....and update my spreadsheets for EOY.

[mistymoney]

HAHA

I read this immediately after using up my $300 wellness benefit.

Bandaids and sunscreen count for FSA. Also contact solution if you have contacts.

:)

My FSA is limited purpose because I have an HSA, so can only be used for dental and vision - but nothing routine dental. How is lens cleaner for eyeglasses covered, but not dental floss and toothpaste? Nor waterpik nor tooth whitener? Who makes this shit up?

Anyhoo - good idea for anyone with regluar FSA to get the bandaids and sunscreen......

If you have spent your HSA money, (equal to this year's contributions) you can get the limitations lifted.  Of course, too late for that now.

I did that for a few early years with HSA's, before I had good options to invest it.

oh! I did not know about that loophole! Good to know in case I need it.

But I have been hoarding my HSA money, and spend for medical out of the usual funds. Unfortunately - I have not invested any of it. I kept meaning to, but I didn't.

Given the "historic" 2 consecutive years at 20%+ on stocks, that was a huge mistake.

At least since consolidating a few different accounts over to a fidelity HSA, I'm now getting a little over $80 in interest per month. Previous employer one I had was under 10/month - but once that got to fidelity, it was 60/month, then up to 80/month when I got the other one there.

[Dave1442397]

Definitely invest that HSA money.

My balance on Jan 1st, 2024 - $36,149.89

And today - $54,610.53

[reeshau]

HAHA

I read this immediately after using up my $300 wellness benefit.

Bandaids and sunscreen count for FSA. Also contact solution if you have contacts.

:)

My FSA is limited purpose because I have an HSA, so can only be used for dental and vision - but nothing routine dental. How is lens cleaner for eyeglasses covered, but not dental floss and toothpaste? Nor waterpik nor tooth whitener? Who makes this shit up?

Anyhoo - good idea for anyone with regluar FSA to get the bandaids and sunscreen......

If you have spent your HSA money, (equal to this year's contributions) you can get the limitations lifted.  Of course, too late for that now.

I did that for a few early years with HSA's, before I had good options to invest it.

oh! I did not know about that loophole! Good to know in case I need it.

But I have been hoarding my HSA money, and spend for medical out of the usual funds. Unfortunately - I have not invested any of it. I kept meaning to, but I didn't.

Given the "historic" 2 consecutive years at 20%+ on stocks, that was a huge mistake.

At least since consolidating a few different accounts over to a fidelity HSA, I'm now getting a little over $80 in interest per month. Previous employer one I had was under 10/month - but once that got to fidelity, it was 60/month, then up to 80/month when I got the other one there.

You don't have to actually have spent it *from* the HSA.  Just have the receipts to show you have spent that much on healthcare in that year.  If you left it parked, and spent out of regular funds, that's fine.

[mistymoney]

Definitely invest that HSA money.

My balance on Jan 1st, 2024 - $36,149.89

And today - $54,610.53

yes - new years resolution #1!

[mistymoney]

HAHA

I read this immediately after using up my $300 wellness benefit.

Bandaids and sunscreen count for FSA. Also contact solution if you have contacts.

:)

My FSA is limited purpose because I have an HSA, so can only be used for dental and vision - but nothing routine dental. How is lens cleaner for eyeglasses covered, but not dental floss and toothpaste? Nor waterpik nor tooth whitener? Who makes this shit up?

Anyhoo - good idea for anyone with regluar FSA to get the bandaids and sunscreen......

If you have spent your HSA money, (equal to this year's contributions) you can get the limitations lifted.  Of course, too late for that now.

I did that for a few early years with HSA's, before I had good options to invest it.

oh! I did not know about that loophole! Good to know in case I need it.

But I have been hoarding my HSA money, and spend for medical out of the usual funds. Unfortunately - I have not invested any of it. I kept meaning to, but I didn't.

Given the "historic" 2 consecutive years at 20%+ on stocks, that was a huge mistake.

At least since consolidating a few different accounts over to a fidelity HSA, I'm now getting a little over $80 in interest per month. Previous employer one I had was under 10/month - but once that got to fidelity, it was 60/month, then up to 80/month when I got the other one there.

You don't have to actually have spent it *from* the HSA.  Just have the receipts to show you have spent that much on healthcare in that year.  If you left it parked, and spent out of regular funds, that's fine.

oh, thanks! never would have thought. Might be able to make use of this in 2025, planning for some more in-depth work ups so I will keep close tabs on the funds spent.

[mistymoney]

gosh....just realized: it's 2025!!!

[mistymoney]

Surprising update!!!

So - apparently, after the first my limited FSA dollars transported 640 into the 2025 limited FSA!!! Before I got a chance to put in my claims!! :0


So - after futility giving up on my wild spending spree figuring I was going to have to forfeit quite a bit of cash - I just didn't even want to try to spend anymore, it was too exhausting!!!

Looks like I overshot, and will have slightly over 100 not reimbursable!

I guess better than leaving 500 on the table, right?

I knew something would be transferred as they did it last year too, but I didn't know quite how much or where I was at spending, and I did think they would wait a bit, giving a warning, and allow later claims to be filed.

Maybe they will back fill when they see the claims?

Any way, overall pleased with the results (guess I should wait till they are paid, though, huh?) and guess I don't need to hunt up that dental statement after all #ROFL

[reeshau]

Surprising update!!!

So - apparently, after the first my limited FSA dollars transported 640 into the 2025 limited FSA!!! Before I got a chance to put in my claims!! :0


So - after futility giving up on my wild spending spree figuring I was going to have to forfeit quite a bit of cash - I just didn't even want to try to spend anymore, it was too exhausting!!!

Looks like I overshot, and will have slightly over 100 not reimbursable!

I guess better than leaving 500 on the table, right?

I knew something would be transferred as they did it last year too, but I didn't know quite how much or where I was at spending, and I did think they would wait a bit, giving a warning, and allow later claims to be filed.

Maybe they will back fill when they see the claims?

Any way, overall pleased with the results (guess I should wait till they are paid, though, huh?) and guess I don't need to hunt up that dental statement after all #ROFL

None of it is returnable?  Even if you want it, return it, and buy it again with a 2025 receipt.

[Sandi_k]

Yes, the rollover happens on 1-1, but you can still submit claims for items purchased in 2024 and have that carryforward diminished by those purchases. You typically have until March 15th or so to submit those 2024 receipts for reimbursement.

You cannot pay 2025 expenses with the carryforward. At least that's my understanding.

[mistymoney]

Yes, the rollover happens on 1-1, but you can still submit claims for items purchased in 2024 and have that carryforward diminished by those purchases. You typically have until March 15th or so to submit those 2024 receipts for reimbursement.

You cannot pay 2025 expenses with the carryforward. At least that's my understanding.

awesome info! thank you!

[mistymoney]

Surprising update!!!

So - apparently, after the first my limited FSA dollars transported 640 into the 2025 limited FSA!!! Before I got a chance to put in my claims!! :0


So - after futility giving up on my wild spending spree figuring I was going to have to forfeit quite a bit of cash - I just didn't even want to try to spend anymore, it was too exhausting!!!

Looks like I overshot, and will have slightly over 100 not reimbursable!

I guess better than leaving 500 on the table, right?

I knew something would be transferred as they did it last year too, but I didn't know quite how much or where I was at spending, and I did think they would wait a bit, giving a warning, and allow later claims to be filed.

Maybe they will back fill when they see the claims?

Any way, overall pleased with the results (guess I should wait till they are paid, though, huh?) and guess I don't need to hunt up that dental statement after all #ROFL

None of it is returnable?  Even if you want it, return it, and buy it again with a 2025 receipt.

thats a good idea, but going to try sandi's first. if the company doesn't auto do it.

most were perscription glasses, but I think a few accesories would add up enough to cover the overage. oh - but there were shipping charges might lose out on anyway.....will see how it works out.

[reeshau]

thats a good idea, but going to try sandi's first. if the company doesn't auto do it.

Yeah, I never had a carry forward, so never encountered it.  Hers is the better idea.  Both have a time limit, I'm sure.

[Sandi_k]

Here is some confirmation:

https://www.goodrx.com/insurance/fsa-hsa/2024-fsa-limits

"If your employer offers a carryover option, you can use your unused FSA dollars — up to the allowed limit — during the following year. Some employers may offer a grace period instead. This gives you extra time – typically 2.5 months – to use the funds in your account before they expire. Your employer is not allowed to offer both a grace period and a carryover option — so if they offer one, they won’t allow you to take advantage of the other benefit."

Since you're seeing the funds now in 2025, that seems like confirmation that your employer DOES allow a carryover option.

[mistymoney]

Here is some confirmation:

https://www.goodrx.com/insurance/fsa-hsa/2024-fsa-limits

"If your employer offers a carryover option, you can use your unused FSA dollars — up to the allowed limit — during the following year. Some employers may offer a grace period instead. This gives you extra time – typically 2.5 months – to use the funds in your account before they expire. Your employer is not allowed to offer both a grace period and a carryover option — so if they offer one, they won’t allow you to take advantage of the other benefit."

Since you're seeing the funds now in 2025, that seems like confirmation that your employer DOES allow a carryover option.

Thanks, good info!

[mistymoney]

For anyone interested - they did reimburse all the expenses for 2024, will check the account on Tuesday - but I assume they reached in and took a bit of the rollover back.

As long as every dollar goes to me eventually, I am Aok! My previous employer sent your unused balance back to you as a little bonus check in April or May if you didn't use it up. so I haven't been as careful as I should be! And it is more difficult to use it up at the end when it is limited purpose FSA rather than for anything eligible.

Put a lot less into the FSA this year, but will still need to be vigilant, and use it up sooner, minus whatever may rollover of course!

[EliteZags]

Definitely invest that HSA money.

My balance on Jan 1st, 2024 - $36,149.89

And today - $54,610.53

very similar for me after transferring to Fidelity in April decided to yolo around half of the 32K balance into hot stocks which is now up to 59K
biggest gainers were PLTR, HOOD, SOFI, TSLA with the remaining 1/3 in VOO, RVT, SMH

curious if you got the 50% gain in safer funds

[Dave1442397]

Definitely invest that HSA money.

My balance on Jan 1st, 2024 - $36,149.89

And today - $54,610.53

very similar for me after transferring to Fidelity in April decided to yolo around half of the 32K balance into hot stocks which is now up to 57K
biggest gainers were PLTR, HOOD, SOFI, TSLA with the remaining 1/3 in VOO, RVT, SMH

curious if you got the 50% gain in safer funds

I contribute the max and had it all invested in VITSX until that fund closed, and since then it all goes to VIGIX.

[elysianfields]

Definitely invest that HSA money.

My balance on Jan 1st, 2024 - $36,149.89

And today - $54,610.53

very similar for me after transferring to Fidelity in April decided to yolo around half of the 32K balance into hot stocks which is now up to 57K
biggest gainers were PLTR, HOOD, SOFI, TSLA with the remaining 1/3 in VOO, RVT, SMH

curious if you got the 50% gain in safer funds

I contribute the max and had it all invested in VITSX until that fund closed, and since then it all goes to VIGIX.

I've also gained ~28% since 12/31/2023 in my HSA, I use Fidelity as well and do:

25% FXAIX
25% VO
25% VB
15% VEA
10% VWO

Yes, I'm overweight small- and midcap, as well as emerging markets, which will have their day in the sun again one of these days.

HSAs really are the Ultimate Retirement Account (thanks to @madfientist ).

[mistymoney]

Definitely invest that HSA money.

My balance on Jan 1st, 2024 - $36,149.89

And today - $54,610.53

very similar for me after transferring to Fidelity in April decided to yolo around half of the 32K balance into hot stocks which is now up to 57K
biggest gainers were PLTR, HOOD, SOFI, TSLA with the remaining 1/3 in VOO, RVT, SMH

curious if you got the 50% gain in safer funds

Good reminder to me to keep focused on this. I have 13k in my employer HSA and had about 25k in my HSAs that I rolled over into fidelity.

I've managed to invest about 10K of the 25k. And have gains, so that is nice. The HSA only covers myself, so I think 13k in current plan should be sufficient?

I find it harder to put huger sums than the usual 401k contributes into the market all at once. Likely not a good thing, and something I should get over.

And try not to accumulate cash I don't want in cash over time too!

[Dave1442397]

Definitely invest that HSA money.

My balance on Jan 1st, 2024 - $36,149.89

And today - $54,610.53

very similar for me after transferring to Fidelity in April decided to yolo around half of the 32K balance into hot stocks which is now up to 57K
biggest gainers were PLTR, HOOD, SOFI, TSLA with the remaining 1/3 in VOO, RVT, SMH

curious if you got the 50% gain in safer funds

Good reminder to me to keep focused on this. I have 13k in my employer HSA and had about 25k in my HSAs that I rolled over into fidelity.

I've managed to invest about 10K of the 25k. And have gains, so that is nice. The HSA only covers myself, so I think 13k in current plan should be sufficient?

I find it harder to put huger sums than the usual 401k contributes into the market all at once. Likely not a good thing, and something I should get over.

And try not to accumulate cash I don't want in cash over time too!

Even if you don't want to put the remaining $15k in the market, you should at least put it into a money market fund just to get a decent amount of interest. I keep all my emergency fund money at Fidelity in SPAXX - FIDELITY GOVERNMENT MONEY MARKET.

[mistymoney]

Definitely invest that HSA money.

My balance on Jan 1st, 2024 - $36,149.89

And today - $54,610.53

very similar for me after transferring to Fidelity in April decided to yolo around half of the 32K balance into hot stocks which is now up to 57K
biggest gainers were PLTR, HOOD, SOFI, TSLA with the remaining 1/3 in VOO, RVT, SMH

curious if you got the 50% gain in safer funds

Good reminder to me to keep focused on this. I have 13k in my employer HSA and had about 25k in my HSAs that I rolled over into fidelity.

I've managed to invest about 10K of the 25k. And have gains, so that is nice. The HSA only covers myself, so I think 13k in current plan should be sufficient?

I find it harder to put huger sums than the usual 401k contributes into the market all at once. Likely not a good thing, and something I should get over.

And try not to accumulate cash I don't want in cash over time too!

Even if you don't want to put the remaining $15k in the market, you should at least put it into a money market fund just to get a decent amount of interest. I keep all my emergency fund money at Fidelity in SPAXX - FIDELITY GOVERNMENT MONEY MARKET.

yes! my rollover HSA is at fidelty, and I just checked and the cash position is in spaxx! Also when you list positions, it says cash rather thant he ticker.

I know I got caught at schwab thinking my parked cash was earning decent interest as I made my rebalancing decisions. No, it was not! everywhere was 4.5% and above on MM, but the schwab cash was about 1%. It was just over a month or two I think, but was somewhat disappointing and mildly irritating that you would have to buy the MM when I know vanguard automatically puts all cash into the MM.

But overall - I should be more cautious of this. I am being careful to leave very little actual cash anywhere. But sometimes there is pocket change that is hard to deploy.

[JupiterGreen]

The MM does come with an expense ratio so if all things are relatively even would you choose that versus just parking cash in a high yield savings account @mistymoney ? My high yield online savings account rate keeps going down and now might be the time to move the emergency fund money into something like Vanguard MM. Right now Vanguard VMFXX is 4.27 with an expense ratio of .11% if I understand it correctly the expense ratio is charged on interest only. What are the pros and cons of the MM. I get that there is a $3000 min that's easy enough. Any thoughts on the expense ratio part or other things to consider?

[Dave1442397]

Definitely invest that HSA money.

My balance on Jan 1st, 2024 - $36,149.89

And today - $54,610.53

very similar for me after transferring to Fidelity in April decided to yolo around half of the 32K balance into hot stocks which is now up to 57K
biggest gainers were PLTR, HOOD, SOFI, TSLA with the remaining 1/3 in VOO, RVT, SMH

curious if you got the 50% gain in safer funds

Good reminder to me to keep focused on this. I have 13k in my employer HSA and had about 25k in my HSAs that I rolled over into fidelity.

I've managed to invest about 10K of the 25k. And have gains, so that is nice. The HSA only covers myself, so I think 13k in current plan should be sufficient?

I find it harder to put huger sums than the usual 401k contributes into the market all at once. Likely not a good thing, and something I should get over.

And try not to accumulate cash I don't want in cash over time too!

Even if you don't want to put the remaining $15k in the market, you should at least put it into a money market fund just to get a decent amount of interest. I keep all my emergency fund money at Fidelity in SPAXX - FIDELITY GOVERNMENT MONEY MARKET.

yes! my rollover HSA is at fidelty, and I just checked and the cash position is in spaxx! Also when you list positions, it says cash rather thant he ticker.

I know I got caught at schwab thinking my parked cash was earning decent interest as I made my rebalancing decisions. No, it was not! everywhere was 4.5% and above on MM, but the schwab cash was about 1%. It was just over a month or two I think, but was somewhat disappointing and mildly irritating that you would have to buy the MM when I know vanguard automatically puts all cash into the MM.

But overall - I should be more cautious of this. I am being careful to leave very little actual cash anywhere. But sometimes there is pocket change that is hard to deploy.

Sounds good!

I left $5 sitting in my PenFed account just to keep it open, and the interest is so low it's only gone from $5.01 to $5.02 since April 2024 :)

[mistymoney]

The MM does come with an expense ratio so if all things are relatively even would you choose that versus just parking cash in a high yield savings account @mistymoney ? My high yield online savings account rate keeps going down and now might be the time to move the emergency fund money into something like Vanguard MM. Right now Vanguard VMFXX is 4.27 with an expense ratio of .11% if I understand it correctly the expense ratio is charged on interest only. What are the pros and cons of the MM. I get that there is a $3000 min that's easy enough. Any thoughts on the expense ratio part or other things to consider?

idk how this works. they call it the settlement fund, and just aumatically put all cash there. so sometime justa few dollars in it.

there is a choice and you could get cash deposit instead with fdic qualities for the settlement fund.