HCRAs -- anyone have one?

[L Sass]

Happy Summer all. DH just began a new job and one of the benfits is a healthcare reimbursement account. We've never had one before and I am trying to be realistic when figuring out how much we should have deducted. I know you should try to estimate slightly lower than your actual expenses since if you don't use it you forfeit the amount. But I guess I'm looking for some guidance or tips in trying to pull it together. We have 3 kids 10, 7 and 4, and DH and I are in good health, using doc mostly for annual exams, labwork, etc. We both do the contact lenses / glasses and with the kids have about 12 or so scripts annually. Anny guidance?

Lorrie

www.picturetrail.com/lsass

 

[TeTe]

Lorrie,

The only advice I can give, since DH & I just did one of these last year, is try to figure out roughly what you think it will be, and, like you said, go a little lower. For the next year, really keep a good tally of what you spend on medical stuff, and then, NEXT time you apply for it, you'll have a better idea of what you should put in. Also, if worse comes to worse, and you have money left over, don't forget that there are lots of over the counter drug store items that you can purchase with money from that account. The HCRA will give you a list of things. Here's a link to drugstore.com where you can see all that you can buy with it.http://www.drugstore.com/templates/...rx=storedir-left&trxp1=DSHPlnav60&trxp2=59875

Good luck!

 

[debgore]

Hi Lorrie,

I don't know if it will help, but just as an example, my husband and I have 2 kids, 3 and 5, and I am the only one with contact lenses/glasses. We are all currently in good health. We have put aside $50/month, or $600/year, and it comes out just about right for routine prescriptions/annual visits (co-psys)/contact lenses only. (We, however, only have one regular prescription among us.) At the end of the year, with me ordering a year's supply of contacts, it comes out about right. If we have any exceptional doctor's visits or procedures (as we did this year), the $600 would not cover it. But we usually choose not to put extra $$$ aside for unanticipated expenses. Others do, and if they end up not having any exceptional expenses, they use if for things like supplements, o-t-c pain relievers, etc. at the end of the year.

Have a great day!

 

[L Sass]

Thanks ladies -- great advice from both of you! This is a whole new animal for us, so it's gonna' take some getting used to. I really appreciate the tips!

Lorrie

www.picturetrail.com/lsass

 

[dreamyjeanie]

Find out if it covers dental. Our does, so we have to figure in our dental co-pay and deductibles as well. We always end up using ours before the end of the year, but we would rather do that lose the money if it wasn't use.

Jean