Quote:
Originally Posted by Lendari
....I recently started work at a new company. They had this thing called an FSA account... at my old employer they has a similar thing called an HSA account and every year I contributed 1000$ to it and every year it grew by 1000$. I once took a deduction for a 200$ dental visit. When I left... they gave me the cash from the account minus the taxes and everything was peachy.
The money was there if I needed it, expenses from the account were tax-free and when I didn't use it, it rolled over to make a nice emergency fund.
So at the new employer i filled out the FSA form the same... contribute 1000$ per year. This was supposed to be my new emergency fund (for a health plan that has a 2000$ deductible *omg*). There's one difference between FSA and HSA that no one mentioned.
....if worst comes to worst though, the feds are not getting that money.[COLOR="DarkSlateGray"]
---------- Post added at 07:07 PM ---------- Previous post was at 06:36 PM ----------
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Quote:
Originally Posted by ASU2003
Does it go back to the Feds, or does it go to the banks & health insurance companies? I always thought it was the later....
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The Feds and insurance companies have nothing to do with this. Unspent flex plan funds simply revert to your employer.
Next time read -and be sure you understand- before you sign on to something like this. This was most likely explained in the documentation you got when you were hired.
Do you consider yourself an honest and responsible person?
Are those things at all important to your self image?
If so, you could just admit your mistake, accept the financial consequences, and move on, as a wiser and more careful person.
Or you could weasel.
Lindy