It is now almost March. Scott and I both signed up for an Flexible Spending Account (FSA) during health insurance sign-ups last fall. Basically here's the way an FSA is supposed to work: they take a fixed amount out of your pay every week pre-tax (in our case $10 each) and send you a pre-paid credit card (with $520 on it) to use on medical expenses including doctor visits, eyeglasses, dental things, bottles of tylenol, etc. When we hadn't gotten our cards by the beginning of February, Scott called and talked to a really nice lady who found out that our apartment # had been cut off and the cards were returned to the company. They got our address straightened out on both accounts, and about a week later, I got my card in the mail. Scott still has not gotten his. Below is his account of his phone call today, after being on hold for about 5 minutes:
They are telling me our address is too long, and that's why it didn't come. I told her, "well my wife's came without any problem." Oh, that was her card, and not yours... "Yes, I understand that, but what I am trying to tell you is that I did this the last time I called, and was told everything was taken care of. She got her card, I never got mine." Well, your address is too long, so I am putting your apartment number on a second line. "Oh, so that will take care of it, and I will get the card in 15 business days??" Yes sir. "okay, if this happens again, how do I get my money back from the program and cancel it?" Oh, you can't cancel sir. "SO! If I never receive the card, I am out 520 dollars?!" Oh no sir, you can submit claims! THANK YOU FOR YOUR HELP, GOODBYE
So I just put a countdown on my office calendar for 15 days starting Monday. On March 20th, 00 day, I have a note that says "bet you still don't have an FSA card!"
Scott's advice: NEVER USE AN FSA!!!!