Comments on: Flexible Spending Account (FSA) Planning: The Grace Period and Run-Out Date http://www.onemoneydesign.com/flexible-spending-account-fsa-planning-the-grace-period-and-run-out-date/ True Financial Freedom Wed, 08 Feb 2012 21:15:02 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jason Price http://www.onemoneydesign.com/flexible-spending-account-fsa-planning-the-grace-period-and-run-out-date/comment-page-1/#comment-234742 Jason Price Tue, 04 Oct 2011 02:26:33 +0000 http://onemoneydesign.com/blog/?p=4184#comment-234742 Anna, sorry to hear of your troubles. If I were in this situation, I would set up a meeting with an HR representative to discuss. They are there to help you and should be willing to guide you as you work through this matter with ADP. They may even be able to speak on your behalf or with you. I know there is a grace period as I mentioned in the article but it's optional for companies to use for their plans. I also mentioned the run-out date which you have to be aware of when using these benefits. $3000 is a large amount of money so I hope this works out for you. Please keep me updated. Anna, sorry to hear of your troubles. If I were in this situation, I would set up a meeting with an HR representative to discuss. They are there to help you and should be willing to guide you as you work through this matter with ADP. They may even be able to speak on your behalf or with you. I know there is a grace period as I mentioned in the article but it’s optional for companies to use for their plans. I also mentioned the run-out date which you have to be aware of when using these benefits. $3000 is a large amount of money so I hope this works out for you. Please keep me updated.

]]> By: Anna http://www.onemoneydesign.com/flexible-spending-account-fsa-planning-the-grace-period-and-run-out-date/comment-page-1/#comment-234550 Anna Mon, 03 Oct 2011 15:26:25 +0000 http://onemoneydesign.com/blog/?p=4184#comment-234550 Hi! Jason: I filed claim for my $3000 FSA reimbursement on Aug.24, 2011. It was 24 days late than ADP's 60 days deadline. (May 31th is the end of our benifit year, July 31th is the ADP's deadline FSA submission). I am preparing my second appeal letter, can I argue FAS's garce period should be 75 day? Does my compeny (we use ADP as Hr) has the right to review my second apeal? please help. Thanks Anna annashia@gmail.com Hi! Jason:

I filed claim for my $3000 FSA reimbursement on Aug.24, 2011. It was 24 days late than ADP’s 60 days deadline. (May 31th is the end of our benifit year, July 31th is the ADP’s deadline FSA submission). I am preparing my second appeal letter, can I argue FAS’s garce period should be 75 day? Does my compeny (we use ADP as Hr) has the right to review my second apeal? please help.
Thanks
Anna
annashia@gmail.com

]]> By: Chris http://www.onemoneydesign.com/flexible-spending-account-fsa-planning-the-grace-period-and-run-out-date/comment-page-1/#comment-27376 Chris Wed, 22 Sep 2010 14:32:11 +0000 http://onemoneydesign.com/blog/?p=4184#comment-27376 I used my FSA card during the grace period to cover fees in 2009 for dental care. This was within the 2.5 month grace period. Wageworks denied the claim as I did not file a Claim sheet but used the Wageworks card. I was under the impression that this was covered under the grace period per IRS laws. This seems like a disconnect in the prorgram. Any thoughts? Thanks I used my FSA card during the grace period to cover fees in 2009 for dental care. This was within the 2.5 month grace period.

Wageworks denied the claim as I did not file a Claim sheet but used the Wageworks card. I was under the impression that this was covered under the grace period per IRS laws.

This seems like a disconnect in the prorgram. Any thoughts?

Thanks

]]> By: Jason Price http://www.onemoneydesign.com/flexible-spending-account-fsa-planning-the-grace-period-and-run-out-date/comment-page-1/#comment-9871 Jason Price Tue, 15 Jun 2010 01:56:52 +0000 http://onemoneydesign.com/blog/?p=4184#comment-9871 Beth, I've done the same thing too. We've estimated too little and ran out about 3/4 into the year. We had to make some quick budget adjustments to meet the medical expenses for our young children (lot's of ear infections). :) Beth, I’ve done the same thing too. We’ve estimated too little and ran out about 3/4 into the year. We had to make some quick budget adjustments to meet the medical expenses for our young children (lot’s of ear infections). :)

]]> By: Beth http://www.onemoneydesign.com/flexible-spending-account-fsa-planning-the-grace-period-and-run-out-date/comment-page-1/#comment-9866 Beth Tue, 15 Jun 2010 00:45:23 +0000 http://onemoneydesign.com/blog/?p=4184#comment-9866 You need a longer grace period. I more often than not run out way to soon because of the fear of losing my money I tend to be conservative. .-= Beth´s last blog ..<a href="http://www.storagewatertank.com/rain-water-onion-tank/" rel="nofollow">Rain Water Onion Tank</a> =-. You need a longer grace period. I more often than not run out way to soon because of the fear of losing my money I tend to be conservative.
.-= Beth´s last blog ..Rain Water Onion Tank =-.

]]> By: Patrick http://www.onemoneydesign.com/flexible-spending-account-fsa-planning-the-grace-period-and-run-out-date/comment-page-1/#comment-2600 Patrick Mon, 01 Feb 2010 03:49:37 +0000 http://onemoneydesign.com/blog/?p=4184#comment-2600 I think the grace period is great if it offers more time to "use it or lose it." Personally, I'm not a big fan of most "use it or lose it" type programs, but FSAs are one exception because of the nice tax benefits. But you really need to monitor it and make sure you aren't contributing so much that you can't use all your benefits (it usually makes sense to work your way up to larger contributions if you have a good health history). .-= Patrick´s last blog ..<a href="http://cashmoneylife.com/2010/01/29/you-need-a-budget-3-personal-finance-software-program/" rel="nofollow">You Need a Budget 3 Personal Finance Software Program</a> =-. I think the grace period is great if it offers more time to “use it or lose it.”

Personally, I’m not a big fan of most “use it or lose it” type programs, but FSAs are one exception because of the nice tax benefits. But you really need to monitor it and make sure you aren’t contributing so much that you can’t use all your benefits (it usually makes sense to work your way up to larger contributions if you have a good health history).
.-= Patrick´s last blog ..You Need a Budget 3 Personal Finance Software Program =-.

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