FSA & medic-alert jewelry

[catwoman]

If you have a flexible spending account and get reimbursed for $XXX of medical costs each year:

It covers a medic-alert bracelet (probably necklace too).

I found this out when looking through the list of eligible items.

 

[Freddie]

Interesting, I wonder if it will work in Canada?

 

[catwoman]

Freddie:

Do you have flexible spending accounts in Canada? If so, go to your government tax agency's website and look for eligible expenses.

My interpretation of what I found in U.S. Internal Revenue Service documents is that only the actual jewelry is eligible for reimbursement; I didn't find anything about membership in something like Medic-Alert.

 

[Bina]

Freddie, you would need a very large amount of medical expenses during a 12 month period in order to be able to deduct anything on your tax forms. The eligible amount is a percentage of net income.

 

[Freddie]

Canada flexible when it comes to medical and taxes???? I'll look into it, but something tells me they won't pay for jewelry, even though it could save ones life.

Maybe it could go under medical expenses? uhmmmm

Thanks for the heads-up Marsha

 

[Freddie]

Freddie, you would need a very large amount of medical expenses during a 12 month period in order to be able to deduct anything on your tax forms. The eligible amount is a percentage of net income.

Yea I know, but I'm thinking...........

 

[Bina]

I have never in my life been able to claim any medical expenses on my tax form because
I always had some kind of employer insurance coverage for meds and dental coupled with a decent salary. Until 2007.
When we no longer had employer coverages for dental, and that combined with my Coaguchek purchase,
gave me enough expenses to be able to enter a medical expense deduction on my tax form.
Look through your Tax manual from last year to see if the med bracelets are eligible.