Tilted Cat Head
Administrator
Location: Manhattan, NY
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The Government to FSA contributors: FU and your money.
Yesterday I had the pleasure of listening to some young twentysomethings who were already employed with benefits, but will be changing back to their parents plans because it's cheaper for them. I was shocked to be hearing such a thing, but I guess that's par for the course. I was disgusted by this frankly because I don't think it's right since they aren't in school anymore.
It made me look up some information about some of the other changes happening. And this is what I found at my insurer.
Quote:
FSA/HSA/HRA Limitations
Provision effective January 1, 2011
Summary
Beginning January 1, 2011, the costs of over-the-counter medicines (OTC) will not be eligible for reimbursement from a health flexible spending account (FSA), health savings account (HSA) or health reimbursement arrangement (HRA) unless obtained with a prescription.
Likewise, in 2011, the tax penalty on withdrawals from HSAs for reasons other than the reimbursement of qualified medical expenses will double to 20%. Beginning January 1, 2013, employee contributions to health FSAs will be limited $2,500 per year, with indexed increases allowed in future years to adjust for inflation.
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Okay, this is just fucked up. I don't want to have to call my doctor when I want to use get my FSA eligible deduction. This will cost me MORE money because now I have to get a doctor's note. Not only that, but getting things reimbursed via FSA is already a pain in the ass. I can't tell you how many doctor's visits I have to "send in documentation" so that it can be verified. It's MY FUCKING DOCTOR'S office, not TGI Friday's or some other vendor.
I already can only get a script good for only approximately 1 year without having to revisit my doctor. While I already go to my doctor once a year, during the rest of the year, I don't know if I'll need to buy more Tylenol or cough medicine.
This is just stupid.
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