I retired in September and had $300 left in my Flexible Spending Account. I just got a notice saying that I should submit more bills to get what’s left. I don’t have any medical bills, but I have been paying for my Medicare insurance – the hospital part and the drug card. Will the FSA pay for these?
Dear New Retiree,
No, you cannot pay your Medicare Part B or Part D premiums using funds from your Flexible Spending Account (FSA). While this is an allowed expense for a Health Savings Account (HSA), it is not for an FSA. See IRS Publication 502 for a complete list of expenses that an FSA can pay. I hope you can find something that will help you retrieve your last $300.