Re: Medical Reimbursement Accounts?

Question

I retired in Aug. 07. I was enrolled in my company's Medical Reimbursement Plan (FSA) for a total benefit of $500. I was reimbursed for expenses totaling the $500 before my retirement in August. My deductions for the FSA acct. were taken out every pay period (every two weeks). Are the remaining payments for the year after I retired still due? My wife quit a job several years ago and was paid for medical expenses even though she had not paid in the total premium. When she called they told her that's the way it works. I knew you lost your benefit if you didn't incur enough medical expenses but I didn't know it worked in reverse. Does anyone know?

Answer 1

I can't speak for everywhere. But I know that at my company, someone in a similar situation who left the company basically "makes out". In other words, the company does not go back to them to recoup the money. So while I don't know if your company is the same, I do know it's possible that you don't have to repay.

Answer 2

we personally have come out ahead twice in 2 different years from 2 different companies, and no one ever asked for it back.