Are med expenses incurred prior to employment reimbursable from a flexible spending picture near the employer?
After leaving my former employer, and prior to beginning work near my new employer, our family incurred nearly $5,000 contained by unexpected out-of-pocket medical expenses. After leaving the former employer, fairly than opting for COBRA coverage, we purchased health insurance contained by the private market. The unexpected medical expenses be not eligible for reimbursement from the flexible spending account that I had established at my former employer, since the expenses be incurred after coverage was terminated. Is there any passageway that these expenses can be eligible for reimbursement from the flexible spending account that I will establish at the new employer? Is within any way that these expenses can be tax deductible, and not be subject to the 7% income threshold?
NO. I just have this happen to me. I had lasik done 1 week in the past I the new plan year started thinking it would be covered and it's not. I took out the maximum alotment per year to be taken out of my paycheck to cover it and now within telling me it doesn't count, so I told them fine cancel it later and they said you can't now i'm 200 in the hole per month lying on the 200 I know got to find to pay the lasik. **** bastards!
Answers: luvhrtz is correct.
Only expenses occurring during your plan year are eligible. And for a latest employee your plan years started when you joined the plan The devout news about the FSA is you can submit receipts for things similar to band aids, Tylenol etc. Stores like Target are in a minute printing a health total at the bottom of the receipt to variety filing easier.