Today I had the last of my flex spending money returned to me via direct deposit and I was so pleased because it was such a stretch to use all the money after all! I grossly overestimated how much I would be spending and was left scrambling at the end. Luckily, a bill from the doctor’s office came in that I was able to claim mileage on so it worked out ok. (If it hadn’t, I was going to have to reconstruct a year’s worth of mileage which is reimbursable but I never claim because it’s a pain in the ass.)
This year, because of changes in the rules about reimbursement, I put less in my account than last year. Sometimes, I wonder why I really bother though. On one hand it’s a nice little “bonus”, but it’s also a pain in the ass too. (I put bonus in quotes becuase I realize it’s really my money, but it’s taken from my check directly so it feels like a bonus.)
I don’t fall into a bracket where saving on the taxes really helps all that much so sometimes I wonder if it’s worth it at all…but then I have a medical bill or need a filling and you know what? Maybe it’s worth it until I get my savings levels up to where I want them.
Not knowing what life has in store for me for the next couple years, I think I’ll reconsider this again next year but I will likely do the Dependent Care option if it applies when it’s time for kids…
Do you have a Flex Spending Account? Do you find it worth your time or just a pain in the butt?