Comments on: Here come the expenses! http://www.penny-saved.com/2007/12/11/here-come-the-expenses/ Personal Finance and Wealth by the Penny Thu, 02 Feb 2012 21:32:12 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Penny Saved http://www.penny-saved.com/2007/12/11/here-come-the-expenses/comment-page-1/#comment-9289 Penny Saved Wed, 12 Dec 2007 15:38:03 +0000 http://www.penny-saved.com/2007/12/11/here-come-the-expenses/#comment-9289 I've never had an FSA with my job, but I still don't get the concept of "use it or lose it". If I contribute $X dollars to the fund based on expected medical expenses, and then I'm fortunate enough to *not* need said funds, why in the world would I lose them? And if I do lose them, who gets them - my employer? It's *my* money and no one else should have the right to it, just because my family and I were healthier than I expected in a given year. The "use it or lose it" clause needs to go away for this plan to be a clear winner. I’ve never had an FSA with my job, but I still don’t get the concept of “use it or lose it”. If I contribute $X dollars to the fund based on expected medical expenses, and then I’m fortunate enough to *not* need said funds, why in the world would I lose them? And if I do lose them, who gets them – my employer?

It’s *my* money and no one else should have the right to it, just because my family and I were healthier than I expected in a given year. The “use it or lose it” clause needs to go away for this plan to be a clear winner.

]]> By: Elizabeth http://www.penny-saved.com/2007/12/11/here-come-the-expenses/comment-page-1/#comment-9259 Elizabeth Wed, 12 Dec 2007 01:08:50 +0000 http://www.penny-saved.com/2007/12/11/here-come-the-expenses/#comment-9259 JD, our workplace uses a debit card (it's called the "Bennie" card for benefits) for FSA's. All of the money that you budget for in a year is credited to the card at the beginning of the fiscal year. A company named Employee Benefit Data Services administers it. It eliminates waiting for reimbursement and might be worth asking your employer to consider. JD,

our workplace uses a debit card (it’s called the “Bennie” card for benefits) for FSA’s. All of the money that you budget for in a year is credited to the card at the beginning of the fiscal year. A company named Employee Benefit Data Services administers it. It eliminates waiting for reimbursement and might be worth asking your employer to consider.

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