If you use the FSA card to pay that's the end of the process. There's no reimbursement because you paid directly from the FSA and not your personal account.
If you were to use your personal credit card to pay then you submit for reimbursement and your FSA balance would be reduced by the amount transferred to you.
stays at $400. if you pay out of pocket you can get reimbursed cash by submitting receipt. i’m not fed but i think it works the same for everyone. you only can spend what you put into it for the year.
How I use my flex spending account.
when I set it up I look at what will me expected medical costs be for the next year. These include
1. Prescription co pays \*\*
2. doctor visit co pays \*\*
3. travel costs to/ from dr appt ( mileage, parking, bus fare)
4 over the counter counter medications
5. dental and vision costs \*\*
6. Medical blood testing and other tests and procedures\*\*
\*\* some insurances send EOB to flex spending account
i set up my account for whay I expect for 2024. I use insurance companies that submit EOBs to flex spending acct so I don’t have to submit the claims. I get the money right after direct deposited into my account. With the ones not \*\* I need to submit documentation to get reimbursed.
Flex spending accounts have an annual cap.
health savings accounts are different.
If you use the FSA card to pay that's the end of the process. There's no reimbursement because you paid directly from the FSA and not your personal account. If you were to use your personal credit card to pay then you submit for reimbursement and your FSA balance would be reduced by the amount transferred to you.
Keep the receipt anyway in case IRS asks.
stays at $400. if you pay out of pocket you can get reimbursed cash by submitting receipt. i’m not fed but i think it works the same for everyone. you only can spend what you put into it for the year.
How I use my flex spending account. when I set it up I look at what will me expected medical costs be for the next year. These include 1. Prescription co pays \*\* 2. doctor visit co pays \*\* 3. travel costs to/ from dr appt ( mileage, parking, bus fare) 4 over the counter counter medications 5. dental and vision costs \*\* 6. Medical blood testing and other tests and procedures\*\* \*\* some insurances send EOB to flex spending account i set up my account for whay I expect for 2024. I use insurance companies that submit EOBs to flex spending acct so I don’t have to submit the claims. I get the money right after direct deposited into my account. With the ones not \*\* I need to submit documentation to get reimbursed. Flex spending accounts have an annual cap. health savings accounts are different.