PIE! Posted September 13, 2011 Share Posted September 13, 2011 We had a baby last month. At the beginning of the year we knew we would, so we set up a health savings account through dh's work. We asked around, and put in about half what we thought our total cost would be. Everything was much cheaper than we had anticipated. As happy as that would normally make us, it's caused a little problem. Now it looks like we'll have about $2,000 left in the health savings account that must be spent by the end of the year or we'll lose it! So what do we spend it on? It has to either be prescription, or actual visits to a medical professional. We can't just go buy a lifetime's supply of diapers/vitamins/bandaids/etc. So far our ideas include: Dental check-ups for dh and I (we keep up on the kids, but it's been years since either of us have seen a dentist) Good quality contact lenses for me Prescription sunglasses for dh All of those would not come close to $2,000. One possible option would be lasik for dh (I'm nursing right now, so no lasik for me), but that would likely take a lot more than the $2,000. We'll be looking into it to find out. So how would you use up $2,000 worth of health care? Quote Link to comment Share on other sites More sharing options...
Heather R Posted September 13, 2011 Share Posted September 13, 2011 Massages? Quote Link to comment Share on other sites More sharing options...
Lisa R. Posted September 13, 2011 Share Posted September 13, 2011 Do you have health insurance? Even if you do, the first year of a baby's life seem to involved several well-care visits and immunizations (if you do that sort of thing.) Even with co-pays, this will take some of that money. Any specialist appointments you've been putting off? Dermatologist? Allergy doctor? Any of the kids need speech therapy? (Is that covered?) Quote Link to comment Share on other sites More sharing options...
Spryte Posted September 13, 2011 Share Posted September 13, 2011 Is there any specialized testing that you might consider? I don't know the name of the test, but my doc ran a genetic test on me and found that I have a gene mutation that commonly causes cardiac issues. Because we know I have it, I take a prescription folic acid. She ran the test on a hunch, because I don't detox well (and I do actually lack the necessary genetic pathway, it turns out, and this explains some near-death experiences with certain meds in the past). But knowing I have this gene (or lack of it) is useful, and makes a lot of sense, given my family history. I would love to have DH get some testing like that, since we don't know much about his family health history. He is adopted, but his adoption has recently opened (!!!!) so we are getting a bit more info now, at least. Quote Link to comment Share on other sites More sharing options...
itsheresomewhere Posted September 13, 2011 Share Posted September 13, 2011 Do you suffer from migraines? If so, then buy yourself a pair of sunglasses from your eye doctor. They can make them darker and it is a good 150 for a quality pair. Otherwise, I think the dentist and eye doctor will make the money disappear fast. It does in this house. Quote Link to comment Share on other sites More sharing options...
Mom0012 Posted September 13, 2011 Share Posted September 13, 2011 We thought we were going to be in the same boat last year, but then wound up with some unexpected expenses and had nothing left. Before the unexpected expense, we were considering having one of us get Lasik. I have a flexible spending account, which is a little different than a health savings account, but in the past you could buy certain OTC things with it. For example, contact lens cleaner/solution, alleve, allergy meds, etc. I would check the rules for your plan though before buying anything. Lisa Quote Link to comment Share on other sites More sharing options...
momofkhm Posted September 13, 2011 Share Posted September 13, 2011 So what do we spend it on? It has to either be prescription, or actual visits to a medical professional. We can't just go buy a lifetime's supply of diapers/vitamins/bandaids/etc. So far our ideas include: Dental check-ups for dh and I (we keep up on the kids, but it's been years since either of us have seen a dentist) Good quality contact lenses for me Prescription sunglasses for dh All of those would not come close to $2,000. One possible option would be lasik for dh (I'm nursing right now, so no lasik for me), but that would likely take a lot more than the $2,000. We'll be looking into it to find out. So how would you use up $2,000 worth of health care? Are you sure with what it has to be and that you can't carry it over? Unless you aren't using the same terminology they use around here, a health savings account can be carried over year to year. The flexible spending account is what must be spent or it's lost. And if I remember my list correctly, we can use ours for lots of things - vitamins, advil, tylenol, OTC stuff and yes even bandaids. But it all has to be documented. That aside, when we ran into the same issue, we bought a lot of meds ahead. Between 3 of us we are on several maintenance drugs. We just got Rx filled even though we didn't need them and insurance wouldn't cover them. We just paid out of pocket for a couple months' worth and used the flex account. It helped us out the next year without having to buy so many. That really bit into the amount left! Glasses, Rx sunglasses. We actually went to the chiropractor. There may have been a massage in there too. Quote Link to comment Share on other sites More sharing options...
Chris in VA Posted September 13, 2011 Share Posted September 13, 2011 I'd go to the dentist first, and then see what is left over. In my case, it wouldn't be enough to cover the work I need! (And I'm thinking this grin :D is probably appropriate here.) Quote Link to comment Share on other sites More sharing options...
HejKatt Posted September 13, 2011 Share Posted September 13, 2011 Here's the list from IRS for Flexible Spending Accounts: http://www.irs.gov/pub/irs-pdf/p502.pdf I guess you are already familiar with it, since the items you raised all qualify (contact lenses, lasik). Someone asked about LDs, there's a section on Special Education. This year the dentist took a big chunk of our FSA.. especially orthodontics (for me, not the dc in case you're checking my kids' ages! :) ). Quote Link to comment Share on other sites More sharing options...
Ria Posted September 13, 2011 Share Posted September 13, 2011 You can still get ibuprofen, allegra, vitamins, and almost all over the counter meds with your FSA account, but you MUST have a dr's rx for them. Just make a list of stuff you want and have your dr write out an rx for each one. The items will be slightly more expensive than if purchased otc (without the fsa) but since you need to use the money, that would be a good way to go. Quote Link to comment Share on other sites More sharing options...
PentecostalMom Posted September 13, 2011 Share Posted September 13, 2011 If you and dh haven't been to the dentist in a long time, you may be surprised how much that will actually take. I would get that process started before I tried anything else. We have excellent dental insurance, and it still costs more than we expect every time. Quote Link to comment Share on other sites More sharing options...
Skadi Posted September 13, 2011 Share Posted September 13, 2011 Lasik eye surgery! It was the best health decision I ever made for myself. I have absolutely no regrets. Quote Link to comment Share on other sites More sharing options...
HejKatt Posted September 13, 2011 Share Posted September 13, 2011 We had a baby last month. .. So how would you use up $2,000 worth of health care? Pub 502 also mentions lactation related expenses.. though I'd highlight that because of the baby. But I agree with a PP.. fees for dental services beyond regular cleaning rapidly add up. Quote Link to comment Share on other sites More sharing options...
PIE! Posted September 13, 2011 Author Share Posted September 13, 2011 I guess what we have is an FSA - not a health savings account. Thanks for all the ideas! I honestly can't think of any extra tests that'd be applicable to us. Our health insurance covers all preventative care completely - so the kids' well-child visits and vaccinations are all free for us. We have dental insurance and healthy teeth (neither of us has ever had a cavity), but I guess there's no knowing how much dental work would cost until we actually go see a dentist. I guess with our ideas, plus some creative prescriptions for OTC stuff, we could spend the money. My doctor is a good friend, and I'm sure she'll play along. (I wonder if we could get a prescription for diapers.) I'm almost positive we have to have a prescription though. Through a different company dh used to work for we had the option to buy stuff like contact solution and bandaids, but we were under the impression that we couldn't with this plan. We'll look into it though. Lasik would be awesome if it falls into the realm of affordability. Thanks again for the help. Quote Link to comment Share on other sites More sharing options...
thescrappyhomeschooler Posted September 13, 2011 Share Posted September 13, 2011 And if I remember my list correctly, we can use ours for lots of things - vitamins, advil, tylenol, OTC stuff and yes even bandaids. But it all has to be documented. It used to be that way, but they changed it. We have a flexible spending account as well. OP- If it were me, I'd be going to the chiropractor every other day! Quote Link to comment Share on other sites More sharing options...
bry's-gal Posted September 13, 2011 Share Posted September 13, 2011 Word of caution, wait until December before you start to use it up! We were in the same boat last year and ended up using it all by before the year was up. Things came up that we were not expecting! Contacts and glasses are a good way along with any sort of dental/orthodontic work! Quote Link to comment Share on other sites More sharing options...
Jryanbass Posted September 13, 2011 Share Posted September 13, 2011 What about a new pump since you are nursing? Quote Link to comment Share on other sites More sharing options...
Tigger Posted September 13, 2011 Share Posted September 13, 2011 If you haven't gotten a really good breast pump, they're allowed! Quote Link to comment Share on other sites More sharing options...
happypamama Posted September 13, 2011 Share Posted September 13, 2011 I'd probably get orthodontic treatment for myself (DH has had it, the kids are too young for it, but I never had it and could use it). If that wasn't necessary, I'd get prescription sunglasses and prescription safety glasses for DH. If there was still money left over, I'd stock up on prescription meds as much as possible and get any bloodwork (including vitamin D tests) that insurance didn't cover. Or any specialist visits that we might have ever considered. Another option might be pre-paying for a bunch of chiropractor visits. I know one of the ones we saw had an option where you could pre-pay for a chunk of visits that anyone in the family could use, and for paying up front, you got a discount per visit. Quote Link to comment Share on other sites More sharing options...
Carol in Cal. Posted September 13, 2011 Share Posted September 13, 2011 Here's the list from IRS for Flexible Spending Accounts:http://www.irs.gov/pub/irs-pdf/p502.pdf I guess you are already familiar with it, since the items you raised all qualify (contact lenses, lasik). Someone asked about LDs, there's a section on Special Education. This year the dentist took a big chunk of our FSA.. especially orthodontics (for me, not the dc in case you're checking my kids' ages! :) ). Does it really say that this is the list for FSAs? It looks to me like it's the list for deductible medical expenses. Quote Link to comment Share on other sites More sharing options...
PIE! Posted September 14, 2011 Author Share Posted September 14, 2011 What about a new pump since you are nursing? If you haven't gotten a really good breast pump, they're allowed! AWESOME IDEA! I've always wanted a really good pump, but it didn't even occur to me to get one with the FSA. Quote Link to comment Share on other sites More sharing options...
sassenach Posted September 14, 2011 Share Posted September 14, 2011 Are you positive that you need to spend it? Health Saving Accounts do NOT have to be used up by the end of the year. They roll over to the next year. FLEX savings accounts DO need to be empty, as you will lose whatever is left. The first thing you need to do is find out if you have an HSA or an FSA. That will make all the difference. Quote Link to comment Share on other sites More sharing options...
Slartibartfast Posted September 14, 2011 Share Posted September 14, 2011 A nice thermometer I cannot think of anything others have not already mentioned Quote Link to comment Share on other sites More sharing options...
Jyniffrec Posted September 14, 2011 Share Posted September 14, 2011 A nice thermometer I cannot think of anything others have not already mentioned I had to laugh at this. We have been in the hospital so many times that we have about 20 good thermometers floating around our house. If it weren't unsanitary I would be trying to give them away! We used part of our money one year for a really good electric toothbrush. We got it from our dentist so it was covered. Quote Link to comment Share on other sites More sharing options...
vonfirmath Posted September 14, 2011 Share Posted September 14, 2011 (edited) We had a baby last month. At the beginning of the year we knew we would, so we set up a health savings account through dh's work. We asked around, and put in about half what we thought our total cost would be. Everything was much cheaper than we had anticipated. As happy as that would normally make us, it's caused a little problem. Now it looks like we'll have about $2,000 left in the health savings account that must be spent by the end of the year or we'll lose it! So what do we spend it on? It has to either be prescription, or actual visits to a medical professional. We can't just go buy a lifetime's supply of diapers/vitamins/bandaids/etc. So far our ideas include: Dental check-ups for dh and I (we keep up on the kids, but it's been years since either of us have seen a dentist) Good quality contact lenses for me Prescription sunglasses for dh All of those would not come close to $2,000. If you need dental work done you could come closer to $2K than you think! (My root canal + crowns are costing $1660 each!) Edited September 14, 2011 by vonfirmath Quote Link to comment Share on other sites More sharing options...
JFSinIL Posted September 14, 2011 Share Posted September 14, 2011 One root canal or crown could wipe most of that out - do get dental check-ups and if either of you need a crown in the near future, get it now! Dermatologist visits, foot doctor and custom arch supports? Wart removal ? The contacts and sunglasses sound like a good idea, too. Quote Link to comment Share on other sites More sharing options...
Once Posted December 27, 2011 Share Posted December 27, 2011 We are trying to use up a few hundred dollars now before the 31st. We had planned to pay for dd braces but it was too much set aside. Does anyone have any more suggestions for last minute purchases? We have already done as many dental and optical appointments as we can. Is it true you need a presciption for bandages? Anyone bought a SAD lamp from their flex money? Quote Link to comment Share on other sites More sharing options...
happypamama Posted December 27, 2011 Share Posted December 27, 2011 If anyone in your family is asthmatic, stock up on the albuterol as much as the pharmacy will allow, or other prescription drugs. Sometimes insurance will only let you get a certain amount of a drug at a time, but maybe you can get more if you pay for it using your set-aside money instead of insurance coverage. Quote Link to comment Share on other sites More sharing options...
TexasRachel Posted December 27, 2011 Share Posted December 27, 2011 We actually have until April to use the previous years' allotment. Check and see if that applies to you. Or go to the chiropractor. That should take care of it. Quote Link to comment Share on other sites More sharing options...
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