Flexible spending account - Gastric Sleeve Surgery

**PConde** · 03-31-2012 01:03 PM

Hello all,

My apologies if this has been discussed in the past. I'd like to point out to everyone here that if you are planning this surgery or have already taken the plunge. Make sure that if your company offers a F.S.A. that you should sign up for it A.S.A.P.

FSA is money that your employer sets aside for you for health care reasons. Administered by the I.R.S. This is all tax free! Since we all know that once you have this surgery, we will be taking pills/shakes for the rest of our lives. Might as welll set aside some money to pay for this.

I go to my local GNC every month and buy Isopure and all the vitamins required. I spend $100 for it all. By the end of the year I will have spent at least $1200. now comes the best part. When I do my taxes for next year, my earnings will be lowered by the $1200 I set aside for my Medical needs due to the sleeve. Which means I pay less in taxes.

I hope you guys/gals find this usefull, Thanks for looking

**Regie** · 03-31-2012 02:35 PM

I always take advantage of this benefit. The money is taken out of paycheck, never missed and I don"t worry about budgeting it into my monthly bills. Plus the tax benefits are awesome.

**Msvetrn** · 03-31-2012 05:43 PM

Even if your company does not offer the FSA, everything can be deducted at the end of the year. I had quite a nice RETURN this year and plan on having another next year from paying the balance of my surgery in 2012 in addition to the vitamins and the Plastic surgery I will be having in July! Surgery, medications, bandages, Airfare, hotel, parking....everything can be included. Of course, it has to be above the 7% of your AGI or whatever it is...

**jerzeygirl** · 03-31-2012 05:50 PM

Wow, HR Block better watch out; we have lots of knowledgable people right here! I didn't know any of this and will email my accountant to ask him to look into the deduction. Thanks!!

**becca72** · 03-31-2012 07:37 PM

Love my FSA card...just be sure to save all receipts!!!

**PConde** · 03-31-2012 10:17 PM

Originally Posted by Msvetrn

Even if your company does not offer the FSA, everything can be deducted at the end of the year. I had quite a nice RETURN this year and plan on having another next year from paying the balance of my surgery in 2012 in addition to the vitamins and the Plastic surgery I will be having in July! Surgery, medications, bandages, Airfare, hotel, parking....everything can be included. Of course, it has to be above the 7% of your AGI or whatever it is...

You are correct, you dont need FSA, you could submit reciepts to your accountant and do the long form. All I'm saying is that you get credited IMMEADIATELY with FSA. I dont have to worry about handing in reciepts next year since everything is done on the spot with FSA. When I submit my W2 next year, it will be lower by the 1200 that was deducted from my paychecks through out the year.

**jade3200** · 03-31-2012 11:26 PM

I do this every year. I do 3000 a year b/c we have maintenance meds for some of us, plus one physical a year. Also its a HUGE help w/ the dentist. And all of us but myself wear eyeglasses. So I use mine every year.

This year no one is accepting it for my vitamins. It always says its not a valid item. I wonder if i go to GNC if it will make a difference. In the past I had to pay first then turn in the reciepts to my employer, this year I have a credit card.

Any ideas?

**jade3200** · 03-31-2012 11:27 PM

Oh, also, a local credit union here advertises FSA. So I think some of them will help you do it.

**A new Beginning** · 03-31-2012 11:29 PM

Yes, love my FSA! Now I can pay my out of pocket and helps with taxes since it is pre taxed money out of my check

**PConde** · 03-31-2012 11:46 PM

Originally Posted by jade3200

I do this every year. I do 3000 a year b/c we have maintenance meds for some of us, plus one physical a year. Also its a HUGE help w/ the dentist. And all of us but myself wear eyeglasses. So I use mine every year.

This year no one is accepting it for my vitamins. It always says its not a valid item. I wonder if i go to GNC if it will make a difference. In the past I had to pay first then turn in the reciepts to my employer, this year I have a credit card.

Any ideas?

Jade,
It is covered under FSA. I just had my Dr fill out a prescription for me with multiple refills. Here is a link of the company who handles the FSA for my employer - https://www.wageworks.com/employee/h...penses/fsa.htm

Its pretty straight forward. As long as I can justify it, which is easy due to the sleeve. I have had no problem getting anything from Dr. that is sleeve related.

**jade3200** · 03-31-2012 11:50 PM

PConde,

Thanks for that info. It looks as if a new law went into effect which is why I cant just do it. I guess I will have the doctor write it on a RX pad that I need to take these things.

**Regie** · 04-01-2012 10:12 AM

Anything a doc puts on a prescription pad, insurance may pay but it will qualify it for FSA. My hospital is reducing the max we can take out of FSA next year, so everyone with an FSA, please check with your employer.