I highly recommend not attempting to purchase things and return them using your flexible spending account. If you get caught, and they decide it's fraud, the charges against you will make the 1k look laughable. Also, your chances of being turned in if anyone catches you at it are high, since they would get 10% of all the money it was found you defrauded the government program of. I'm not the kind of guy who would turn people in, but there are plenty who will do so for 100 bucks and the feeling of great justice.
That said, remember that it IS legal to recoup the following:
- Mileage to and from doctor, dentist, and pharmacy trips. (I'm unsure what the mileage rate is currently. I last worked in insurance in 2008, and that was mostly life insurance.)
- Get checkups! Teeth cleanings! Preventative care is seriously the best thing to do, and is what FSAs are for.
- Tooth whitening and beautification are often covered. Look into getting a new smile.
- Glasses? Prescription sunglasses are covered. Prescription goggles can be covered, which might be cool if you're the athletic type.
- If interested, DNA sequencing can be covered by your FSA. It's about 200 bucks (last I looked), and will show you things like what greater risks you have for certain diseases with genetic factors. 23 and Me is a good service.
- Condoms and other birth control are reimbursible.
- Dancing, if your doctor prescribes it. Many doctors feel dancing is great for your health. Get a doctor to recommend it for you, and dancing lessons are eligible for FSA reimbursement.
- Laser eye surgery. It'll be more than your 1k, but something to think about if your vision isn't perfect.
- Swimming pool/spa memberships. Falls into the same category as dancing. If your doctor recommends it, it's recoupable!