Reply to Newbie question: talk to me about flexible spending accounts and orthodontics

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[quote=Anonymous][quote=Anonymous]We'd like to use our FSA to cover the amount not covered by insurance. Have you done this for a medical/dental problem that spanned more than a year, as opposed to a one-time situation? Do they pay directly to the provider, or is a reimbursement to yourself thing? I'd love to just have the money go to the orthodontist.[/quote]
In my experience, I had to pay first and then be reimbursed; the money didn't go directly to the provider. I did have an FSA Mastercard but it seemed like at least half the time, I was told that I would need to submit additional information for the claim to be accepted. So I got annoyed with the card and just went back to the old method of paying up front and getting reimbursed. It's pretty fast; they direct-deposit the money into my account.

As for medical bills spanning one year -- you can set aside $2,500 each year, and I think there is usually a 3 month grace period at the end (check with your plan administrator, though!!) So that gives you 15 months to spend that money. I wouldn't put more in the account than you expect to spend during that time period, because you'll lose it. [/quote]

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