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Flexible Spending Account Formula

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10:57 am
November 11, 2011


Buck Inspire

Member

posts 1546

Hi all,

 

Anyone know of good tips or articles on how to determine what you put away for next year's FSA?  Thanks! Smile

12:03 pm
November 11, 2011


retireby40

USA

Member

posts 1381

Buck Inspire said:

Hi all,

 

Anyone know of good tips or articles on how to determine what you put away for next year's FSA?  Thanks! Smile

I wrote about 2012 annual enrollment, but didn't get into FSA allotment much. Smile

http://retireby40.org/2011/11/…..ment-time/

 

You should use this year's expense as a guide and go with something similar.

retire by 40

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3:18 pm
November 11, 2011


Khaleef @ KNS Financial

Fat Guy, Skinny Wallet

Member

posts 3149

I would say to use this year's out of pocket expenses, plus add in extra for mileage, parking, and OTC medication for which you have a prescription. Here is an article that I wrote a while back that may still be helpful (just remember that otc's need a prescription):

http://knsfinancial.com/flexib…..they-work/

 

Khaleef "Fat Guy" Crumbley

My Battle to Lose 100lbs and Pay off $100k in Debt:

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5:13 pm
November 11, 2011


Suba @ Wealth Informatics

Moderator

posts 1876

I have a few FSA related post that might be helpful (and I have one coming next Friday)

 

http://www.wealthinformatics.c…..uidelines/

http://www.wealthinformatics.c…..-expenses/

http://www.wealthinformatics.c…..a-fsa-hra/

 

 

Visit me @ Wealth Informatics Financial freedom through information

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4:23 pm
November 14, 2011


Buck Inspire

Member

posts 1546

Thank you Joe, Khaleef, and Suba!

 

Some reading to catch up on.  Laugh

5:03 pm
November 14, 2011


krantcents

Member

posts 909

My annual open enrollment will close on the 20th.  I just set my FSA for next year.  I added up what I spent this year and looked at what I expect to spend next year.  I set an amount that was slightly less than what I expect to spend. Remember, if you do not use the funds you lose it. 

krantcents  – Making Sense of Money

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