Comments on: How Flexible Spending Accounts SHOULD Work http://www.fivecentnickel.com/2005/08/09/how-flexible-spending-accounts-should-work/ personal finance tips, tricks, and commentary Sun, 22 Nov 2009 04:49:32 -0500 http://wordpress.org/?v=abc hourly 1 By: Jose Anes http://www.fivecentnickel.com/2005/08/09/how-flexible-spending-accounts-should-work/comment-page-1/#comment-429 Jose Anes Sun, 28 Aug 2005 17:03:23 +0000 http://www.fivecentnickel.com/?p=121#comment-429 Personal Spending Accounts have been in the agenda for the current congress. At some point there was a proposal stating that money not used could be carried over. Maybe it will be discussed when the Congress comes back from recess. Personal Spending Accounts have been in the agenda for the current congress. At some point there was a proposal stating that money not used could be carried over. Maybe it will be discussed when the Congress comes back from recess.

]]> By: MM http://www.fivecentnickel.com/2005/08/09/how-flexible-spending-accounts-should-work/comment-page-1/#comment-367 MM Mon, 22 Aug 2005 16:29:51 +0000 http://www.fivecentnickel.com/?p=121#comment-367 I love this idea! I love this idea!

]]> By: FMF http://www.fivecentnickel.com/2005/08/09/how-flexible-spending-accounts-should-work/comment-page-1/#comment-316 FMF Wed, 10 Aug 2005 16:48:50 +0000 http://www.fivecentnickel.com/?p=121#comment-316 I agree -- it seems all messed up from a practical applications standpoint. It's so bad that it's almost not worth the hassle for me. I agree — it seems all messed up from a practical applications standpoint. It’s so bad that it’s almost not worth the hassle for me.

]]> By: Kris http://www.fivecentnickel.com/2005/08/09/how-flexible-spending-accounts-should-work/comment-page-1/#comment-312 Kris Wed, 10 Aug 2005 12:57:13 +0000 http://www.fivecentnickel.com/?p=121#comment-312 The way I understand it, any forfeited money goes back to the empoloyer. In my case, my employer has commited to returning any forfeitted money back to the employee. They are looking into ways to carry this over tax-free, but if that doesn't work, they will cut bonus checks for the ammount. In this case we will be taxed on the money, but won't lose it! My employer also matches medical FSA contributions 2 for 1 up to $1000 matching. I put in $500, the company puts in $1000. Why wouln't you without the threat of losing it? The reason my company is doing this is in an effort to move toward a medical savings account model with high deductible insurance only covering high dollar events. The goal is to enable employees to build a medical nest egg to cover the difference. The way I understand it, any forfeited money goes back to the empoloyer.

In my case, my employer has commited to returning any forfeitted money back to the employee. They are looking into ways to carry this over tax-free, but if that doesn’t work, they will cut bonus checks for the ammount. In this case we will be taxed on the money, but won’t lose it!

My employer also matches medical FSA contributions 2 for 1 up to $1000 matching. I put in $500, the company puts in $1000. Why wouln’t you without the threat of losing it?

The reason my company is doing this is in an effort to move toward a medical savings account model with high deductible insurance only covering high dollar events. The goal is to enable employees to build a medical nest egg to cover the difference.

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