Author Topic: fsa advice  (Read 878 times)

Case

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fsa advice
« on: November 08, 2019, 01:38:29 PM »
I am young-ish, and probably wont need much medical care next year, but I am planning on getting an endoscopy and maybe see some doctors for minor things I have been putting off for years.  The endoscopy is mostly as preventative healthcare, because I have had a history of acid reflux for many years, and think it would be a good idea to find out how much damage I have down there.  I am planning on bumping up my insurance to a lower high deductible (still HSA eligible) plan.

Now, I am trying to figure out if it is a good idea to dump some money into an FSA to offset the costs of the endoscopy, which I'm guessing will be a $2000-ish procedure.  I am trying to figure out how FSAs work and figured this forum would know all the details... any advice? 

Aunt Petunia

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Re: fsa advice
« Reply #1 on: November 08, 2019, 01:42:40 PM »
I don't know if you can have an FSA and HSA together. At my employer you can only choose the FSA if you have a non -HSA eligible plan.  I don't know if it is true everywhere.

the_fixer

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Re: fsa advice
« Reply #2 on: November 08, 2019, 01:42:57 PM »
It was my understanding that if you have an HSA eligible insurance you can not do a FSA?

HSA would be better anyway since FSA is use it or lose it where you can keep funds put into an HSA.

Sent from my Pixel 2 XL using Tapatalk


Case

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Re: fsa advice
« Reply #3 on: November 08, 2019, 01:55:13 PM »
It was my understanding that if you have an HSA eligible insurance you can not do a FSA?

HSA would be better anyway since FSA is use it or lose it where you can keep funds put into an HSA.

Sent from my Pixel 2 XL using Tapatalk

I appear to have the option to do both but perhaps I am mistake.
I am definitely getting the HSA.

Case

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Re: fsa advice
« Reply #4 on: November 08, 2019, 02:06:59 PM »
It was my understanding that if you have an HSA eligible insurance you can not do a FSA?

HSA would be better anyway since FSA is use it or lose it where you can keep funds put into an HSA.

Sent from my Pixel 2 XL using Tapatalk

I appear to have the option to do both but perhaps I am mistake.
I am definitely getting the HSA.

Oh wait, I see now, I can get a limited purpose FSA, which basically sucks.  But I can't get the regular one as you guys pointed out.

Thank you!

charis

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Re: fsa advice
« Reply #5 on: November 08, 2019, 02:52:03 PM »
It was my understanding that if you have an HSA eligible insurance you can not do a FSA?

HSA would be better anyway since FSA is use it or lose it where you can keep funds put into an HSA.

Sent from my Pixel 2 XL using Tapatalk

I appear to have the option to do both but perhaps I am mistake.
I am definitely getting the HSA.

Oh wait, I see now, I can get a limited purpose FSA, which basically sucks.  But I can't get the regular one as you guys pointed out.

Thank you!

A limited purpose FSA with an HSA is way better than having no FSA at all. I'd love to add an FSA to my HDHP/HSA coverage.

reeshau

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Re: fsa advice
« Reply #6 on: November 09, 2019, 04:59:45 AM »
It was my understanding that if you have an HSA eligible insurance you can not do a FSA?

HSA would be better anyway since FSA is use it or lose it where you can keep funds put into an HSA.

Sent from my Pixel 2 XL using Tapatalk

I appear to have the option to do both but perhaps I am mistake.
I am definitely getting the HSA.

Oh wait, I see now, I can get a limited purpose FSA, which basically sucks.  But I can't get the regular one as you guys pointed out.

Thank you!

Once you have hit your plan's deductible, you should be able to file with your ESA to remove the limitations.  We did that for several years.  But it sounds like the procedures you have planned won't hit that.

Here is an example of such a form from a Wageworks plan:
https://www.choice-strategies.com/hsa-declared-deductible.html
« Last Edit: November 09, 2019, 05:08:28 AM by reeshau »

kenner

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Re: fsa advice
« Reply #7 on: November 09, 2019, 10:33:26 AM »
I've got an HSA and a limited use FSA, and in my case it's only usable for vision and dental...as last I looked it was employer-specific if you're allowed to use it for more than that, and I know my employer doesn't allow it so it might be worth checking to make sure yours does if you plan on using it that way.  For me my vision expenses are always more than insurance will cover so I usually put in a couple hundred for that, but you want to be careful because you can only roll over $500 at the end of a year.  If you have more than that, you'll lose the extra.

Case

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Re: fsa advice
« Reply #8 on: November 09, 2019, 01:48:54 PM »
It was my understanding that if you have an HSA eligible insurance you can not do a FSA?

HSA would be better anyway since FSA is use it or lose it where you can keep funds put into an HSA.

Sent from my Pixel 2 XL using Tapatalk

Is that not contingent on expecting some of the limited expenses?  Dental, vision and the like are not currently big (or even small) expenses for me.

I appear to have the option to do both but perhaps I am mistake.
I am definitely getting the HSA.

Oh wait, I see now, I can get a limited purpose FSA, which basically sucks.  But I can't get the regular one as you guys pointed out.

Thank you!

A limited purpose FSA with an HSA is way better than having no FSA at all. I'd love to add an FSA to my HDHP/HSA coverage.