does anyone have a "FLEX SPENDING ACCOUNT" at work?

[madbomber31]

you can use money on medical expenses and get it back tax free... anyone have this? how does yours work? how long from submission of receipts until you get your cash?

i'm trying one out this year and only am taking 10 bucks per check out, i already spent half the amount i was taking out for the year and want to test it out.

 

[BrothaBill]

Yeah, I understand its good if your for sure you are going to use all the money you are going to put in the flex account but I think that if you dont use it, you lose it, all depends on how much you go to the doctor

 

[EnderJE]

For me? 2 weeks.

 

[Raina]

Yes. It's been really nice when I've known I was getting surgery.

Ours is set up so we don't need to keep receipts. Every time I do copays they put it together and mail me a check once a month.

 

[*MissFit*]

we have flex dollars but i think in canada its different.. i don't put anything into the account, it's all put in by my company.. and if i don't use it it goes into the next year..

Basically it can be used for extras.. ours is silly even plastic surgery is covered, massages.. theres a long list

 

[digger]

Last outfit I was with actually had a debit card linked to the account. Had to be careful not to use it for anything that wasn't covered, but it was worth it not to have to fill out the g-ddamn forms. The system is getting smarter.

In the US it is most definitely "use it or lose it." Makes it harder than it should be to decide how much to set aside. It's still a win, though. So they take a couple of weeks to cut your check? It's still your money being set free of the tax man.

 

[Dial_tone]

I once submitted a bill for more than I had in the account and they paid the entire amount. (eye glasses)

 

[Tytan]

Yeah, I understand its good if your for sure you are going to use all the money you are going to put in the flex account but I think that if you dont use it, you lose it, all depends on how much you go to the doctor

you are correct man, if you don`t use that money by the end of the year....you loose it. You can`t spend it on anything but medical expenses either...

 

[*MissFit*]

In the states eye glasses arent covered under basic? What about hospitals? I'm really curious how u guys r set up

Dentist?

 

[EnderJE]

If I don't use it, then they give it to me as taxable cash.

 

[EnderJE]

Or maybe I should call you...75th, part deux.

 

[HiDnGoD]

We have Flex Health & Flex Dental. They are both part of the benefits package. The Flex Health is $500.00 per year & you can't carry over. The Flex Dental which is over & above regular dental, is $500.00 per year & you can carry over 1 year.
Safety prescription glasses are covered under the Flex Health. Orthotics are covered separately.