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Re: [IP] Flexible Spending Account?

I was always told, and I've been using FSA accounts for the last 6 years,
that expenses can only be reimbursed if they were incurred in the active plan
year.  So, you can't get reimbursed for expenses that occured last year in the
current year.

Technically, if you're paying monthly for a pump you recieved this year, you
shouldn't be able to claim the expenses in the following year.   

I routinely get reimbursed for expenses I've been billed, but not actually paid
for and that works just fine.   I use the FSA funds to actually pay the bill.

I could be wrong.  Your benefits people SHOULD know and a tax person definitely


--- Kathleen Weaver <email @ redacted> wrote:
> My people said I could, but I'm still wondering about that....
> From IRS Pub 502
> >>>
> You can include only the medical and dental expenses you paid this year,
> regardless of when the services were provided. (But see Decedent under Whose
> Medical Expenses Can You Include, later, for an exception.) If you pay
> medical expenses by check, the day you mail or deliver the check generally
> is the date of payment. If you "pay-by-phone" or "on-line" account to pay
> your medical expenses, the date reported on the statement of the financial
> institution showing when payment was made is the date of payment. You can
> include medical expenses you charge to your credit card in the year the
> charge is made.   It does not matter when you actually pay the amount
> charged.
> >>>
> I assume then that this would be considered a credit card charge -- however,
> I'm not sure it matters, since the Flexible Spending Account is limited to
> 203.88 per month.  Between prescription meds, OTC stuff, doctor copays,
> contact lens, and 15% of diabetic supplies, etc., I think I'll hit that.
> ----- Original Message ----- 
> From: <email @ redacted>
> To: <email @ redacted>
> Sent: Friday, October 24, 2003 10:33 PM
> Subject: RE: [IP] Flexible Spending Account?
> > "Kathleen Weaver" <email @ redacted> wrote:
> >
> >
> > But here's a question that I bet someone here can answer.
> > I purchased my pump in August, paying half of it on receiving it and am
> >  paying the other half in monthly payments. I can put those payments in
> the
> > Flexible spending account next year, even though the purchase was this
> year, but
> > still making payments?
> >
> > Kathleen and others:
> >
> >  First off, YMMV, but when I purchased my pump, I was told by the manager
> of the
> > company handling our flexible spending account; that I could only apply
> the
> > monthly payments i made to pump company only for the calendar year in
> which i
> > had purchased the pump. In other words I purhcased the pump in March 2001
> and
> > could only apply the down payment and monthly payments that I made in the
> > calendar year of 2001. and not during the calendar year of 2002.
> >
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