{ "media_type": "text", "post_content": "New grad here! Do you recommend enrolling in FSA? I like the idea but worried that there may be complications involved with the process of using FSA for reimbursement. What are your experiences with it, and anything troublesome that I should be aware of? Could I change the amount any time like the commuter program or is it more based upon new hire/qualifying event?", "post_id": "60fed9cc2e851a0022f9a250", "reply_count": 14, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

New grad here! Do you recommend enrolling in FSA? I like the idea but worried that there may be complications involved with the process of using FSA for reimbursement. What are your experiences with it, and anything troublesome that I should be aware of? Could I change the amount any time like the commuter program or is it more based upon new hire/qualifying event?

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The issue is you don't know what your annual medical expenses will be. I think you need to hold off until you have a better idea

HSA is better. FSA expires at the end of the year so you never really save up. An HSA keeps growing so if down the line you have some big expenses (operations, having a kid Etc.) you have a pain free way to pay for all health concerns/ potential emergencies.

Thats right, I cannot qualify for HSA for my plan

Using it for reimbursement is usually fairly easy. Another option is a HSA, if it’s offered.

Unfortunately not :/ but thanks for the note

Alternate opinion: If you have a high-deductible plan and are HSA eligible, I would say absolutely, no brainer. The money rolls over year over year and is tax advantaged so there really isn’t any downside. Eventually, you will have medical costs and will be able to use it, even if it is 10 years down the road. Oh and by the way that money grows year over year. I personally have only been electively for two years of my life and maxed both (about $3k/year). That was 2018 and 2019. That $6k had already grown into about $9k that I can hold and use for any future medical expense.

Thanks for this! Unfortunately HSA isn’t an option otherwise I would have opted for it too. Is the deadline to use the fund by the end of a calendar yr or within 1 yr of the plan date

HSA will give you a debit card. Easy to use the funds.

Don’t do FSA until you have 2+ years of medical spending data to rely upon.

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