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Firebolt32
Posted on Monday, November 10, 2008 - 05:00 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

As of a week ago I no longer work for WUSF (University of South Florida's TV station). While going through my desk collecting all my things I came across a debit card issued in my name for my medical bank account. I thought nothing of it and threw it in a box with the rest of my crap. My brother left with me as well and told me today that he activated his and there was $500 on it.

I should have the same amount on mine. The question at hand here is...

A. With not having medical until the first of the year with my new company, (literally, brand new company) do I keep the card just in case something happens?

B. Do I activate the card, pull all the money and go on a Buell shopping spree?

I'm asking you guys before I do the misses because I know what her answer will be. Help!!!!!
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Badlionsfan
Posted on Monday, November 10, 2008 - 05:14 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

Consider it a severance gift. You didn't know you had it, so you'll never miss it. Go buy yourself and the misses something nice with it, such as a high end call girl or something.
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Rocketsprink
Posted on Monday, November 10, 2008 - 05:34 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

Until they want their $500 back.
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Ft_bstrd
Posted on Monday, November 10, 2008 - 05:37 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

If it's like most FSAs, you are restricted as to what you can spend the money on.

It isn't usually just free money. It must be spent on medically related expenses.

I'd check into it before you spend it. They can bill you for unauthorized expenditures.
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Hootowl
Posted on Monday, November 10, 2008 - 06:00 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

If it is a benefit that you earned, they can not take it back from you.

If it is a medical flexible savings account (spending account?), you can only use it for medical expenses like over the counter or prescription drugs, eyeglasses etc. and you have already paid into this with pre-tax money from your paycheck. Most places you can use the card (supermarket pharmacies etc.) flag each item that is eligible and offer you the option of using it at checkout. Any money in this account at the end of the year is forfeited to the government, so use it or lose it.
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Firebolt32
Posted on Monday, November 10, 2008 - 06:53 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

I'm afraid we have lost it. My brother activated his card and tried to pull the money out. It will show a balance on the card but will not allow him to pull anything out. He said he was going to try again tomorrow. We'll see what happens.
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Tramp
Posted on Monday, November 10, 2008 - 06:58 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

it should be extended as part of your COBRA
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Ft_bstrd
Posted on Monday, November 10, 2008 - 07:22 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

You can't pull money out of a FSA. It will only allow direct purchases usually.

I'd check with them to see how to access it. If they've contributed it, it won't do them any good as it would be treated as an employee contribution to be used by 12/31.

Look here:

http://www.irs.gov/publications/p969/ar02.html#d0e 1967
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Firebolt32
Posted on Monday, November 10, 2008 - 07:31 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

It's actually a HSA. A pin number was given to me, but I can't find the paper work. I do know that it's good until 12/31 like you said Ft_bstrd. Just don't know if I wanna chance pulling money out if I do find the pin.
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Tramp
Posted on Monday, November 10, 2008 - 07:57 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

"pin number"



that's up there with "ATM machine "
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Palerider
Posted on Monday, November 10, 2008 - 09:19 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

And VIN number!
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Ft_bstrd
Posted on Monday, November 10, 2008 - 09:23 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

EGV Valve
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Froggy
Posted on Monday, November 10, 2008 - 09:45 pm:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

As long as it ain't a Nigerian price asking for the info...
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Danger_dave
Posted on Tuesday, November 11, 2008 - 05:19 am:   Edit Post Delete Post View Post/Check IP Print Post    Move Post (Custodian/Admin Only)

I have no idea what all that means - but do what is the honorable thing I bet you get more than that with interest in Karma some day.
Always worked for me.

(Message edited by danger_dave on November 11, 2008)
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