ADP flexible spending Account CRAP-

[USIC1]

What a frikin SUCKER play

These people have to be kidding!!!

Its criminal...

Set aside pretax $ for possible health care costs dont use it by end of the calender year and this ADP gets to steal it from you for nothing...

Criminals for even presenting this crap to employees...

First IMPRESSIONS as they say...

YOUR OWN MONEY STOLEN JUST LIKE THAT>>>

This is really something that should go to the politicians all joking aside...

:mad:

[underground quester]

What a frikin SUCKER play

These people have to be kidding!!!

Its criminal...

Set aside pretax $ for possible health care costs dont use it by end of the calender year and this ADP gets to steal it from you for nothing...

Criminals for even presenting this crap to employees...

First IMPRESSIONS as they say...

YOUR OWN MONEY STOLEN JUST LIKE THAT>>>

This is really something that should go to the politicians all joking aside...

:mad:


I don't pretend to understand the variations of health care systems but this at first blush seems like it makes no sense at all USIC1.

First off, is the "ADP" a "for profit" enterprise? If so, I fail to understand how they can just take whatever money is in a pool and stick in it their pocket.

If it comes off your cheque you should be allowed year after year growth so when something serious does occur, you have some funds available.

If it is as you present it, can ADP spell CLASS ACTION LAWSUIT?

[USIC1]

Nope its probably a big business loophole compliment of Uncle...

I remember hearing about how people should look out for themselves and the government promoted this thing...

Guess they made it a corporate beni as well...

ADP is a for profit outfit and has this website to even verify what I say...

https://www.flexdirect.adp.com/FSAinfo/learning/overview_hc.html

[TBONE]

at this point nothing surprises me:hammer:

[underground quester]

Nope its probably a big business loophole compliment of Uncle...

I remember hearing about how people should look out for themselves and the government promoted this thing...

Guess they made it a corporate beni as well...

ADP is a for profit outfit and has this website to even verify what I say...

https://www.flexdirect.adp.com/FSAinfo/learning/overview_hc.html



Okay, now I understand. Simply put it is a revolving spending account for known expenses such as daycare, kids summer camps, eldercare, etc.

By revolving they mean ongoing monthly expenses. So say things like daycare, babysitting, someone to come in a look after a parent who cannot look after themselves while you work.

If for example you have kids and you are paying a babysitter - that's NOT related to you or the child then those expenses are covered.

Where the benefit comes in is you get to deposit PRE TAX dollars into the account for say your babysitter. Then you pay the babysitter from the account and pay NO tax on the amount you paid for that service.

Presently lots of people are probably paying a babysitter or after school centre for their kids with AFTER TAX dollars so you end up, in reality, paying MORE.

Whatever your "tax bracket" is, is roughly what you will save.

BUT AGAIN, it is NOT intended as a savings account but an account for funds to flow through to cover eligible expenses so the government has a way to track WHY you are not paying taxes on that money.

For someone like my wife and I who chose to have no kids and our parents are still living on their own and are not dependent upon us, this kind of program has NO value.

I don't know your situation, re: kids, dependent parents, etc. but a good Certified Management Accountant, Chartered Accountant, Tax Accountant could probably give you better advice as to whether it is of value to you.

Also, these CATS have to make money somewhere, likely
A) they take some kind percentage to perform this service.
B) The government subsidizes them and they take no part of your funds
C) Some combination of A&B.

If you have any questions PM me. I may/may not be able to answer but I will try. Again a good Accountant might be able to answer your questions or a call to ADP with some straight forward questions might get you answers.

Also, if the plan COULD apply to you, ask some of the people you work with to see if/how it benefits them.

Essentially, NO KIDS, NO DEPENDENT ADULTS, not much there for you in this plan unless I read it incorrectly.

[USIC1]

This is about setting aside funds for just HEALTHCARE that may or may not be used...

And NOT JUST where you know in advance what your health expenses will be...In that scenario you would be able to precalculate your funding and benefit from this plan...Yes you got it but it is nt righteous...

Since we incur a deductible with our insurance it would be wise to save up to the deductible level pretax....IN CASE YOU have healthcare costs the initial deductible could be paid off with the pretax savings...Common sense or greater use of what should be...

If the amount never gets used we could roll it over but not lose it...

Hell its your money...Thats my beef...

[underground quester]

This is about setting aside funds for just HEALTHCARE that may or may not be used...

And NOT JUST where you know in advance what your health expenses will be...In that scenario you would be able to precalculate your funding and benefit from this plan...Yes you got it but it is nt righteous...

Since we incur a deductible with our insurance it would be wise to save up to the deductible level pretax....IN CASE YOU have healthcare costs the initial deductible could be paid off with the pretax savings...Common sense or greater use of what should be...

If the amount never gets used we could roll it over but not lose it...

Hell its your money...Thats my beef...



USIC1:

Yes I absolutely agree with you. Use it or lose it does not seem reasonable when it was your money in the first place. If the employer paid the amount then yes I could agree with the use it or lose it scenario. To me, these guys are walking a razor thin line between fairness and outright larceny. I suppose they can claim that in several places they do tell you in advance to use it or lose it,still does not make it right in my mind though.

[ifinditunderground]

I have the option to use an ADP FSA at work, but I don't. Here's the catch folks.......YOU DON'T HAVE TO CONTRIBUTE YOUR MONEY! It is a "optional" benefit. This thread is like someone putting their thumb on a metal table and then smashing it as hard as they can with a big hammer, and then crying and bitching cause their thumb hurts. Jeezum Folks! What happened to the old Cablevine where people cried and whined, but also asked some good questions, or helped out a fellow locator along the way with a locating problem.

Steve, your forum is great, but this place is fast becoming the "TheCrybabyVine" - For Crying, by Criers.

[TheCableVine]

That made me laugh. This place has always had bitching and moaning going on. Nothing new. However... there are less posts on people helping people. You are right about that. Maybe it is just the time of year and people are tired and want to get some things off their chest.

I have the option to use an ADP FSA at work, but I don't. Here's the catch folks.......YOU DON'T HAVE TO CONTRIBUTE YOUR MONEY! It is a "optional" benefit. This thread is like someone putting their thumb on a metal table and then smashing it as hard as they can with a big hammer, and then crying and bitching cause their thumb hurts. Jeezum Folks! What happened to the old Cablevine where people cried and whined, but also asked some good questions, or helped out a fellow locator along the way with a locating problem.

Steve, your forum is great, but this place is fast becoming the "TheCrybabyVine" - For Crying, by Criers.

[ifinditunderground]

You may be right about that Steve.
You have to look at who started it. The #1 pot stirrer.

Maybe you could rename this place "The CheaterVine" By Cheater, For his own personal pot stirring entertainment. Ass.

[tylerd75]

i have used the ADP flex acct for now 3 years, you have actually until MARCH 30TH the following year to use the money. I started off cautiously with it, however now I take full advantage of it. It is tax free money that I have used now for

Dentist
Dr visits
Surgery
Wife pregnancy
otc medicines (ora gel for my baby, painkillers for me, Migraine relief- we all need that!!)
Script medicine
Chiropracter


Anything medically related you can use this money on, it is a fantastic plan for those who moan about rising insurance costs and want something done about it. I am a huge supporter of this and guess what, it is voluntary so you dont have to use it, however I am saving money every year by using tax free money on things I would buy and have to pay for anyhow. Just sounds like another person who does not have all the facts who wants to complain about another thing. :greenapple:

[PowerSweep]

Why do people whine about things that they have failed to explore first.

Flexible spending accounts are regulated by the government. Use it or lose it is a government thing.....it is not another ploy by your company to get money from you or a ploy by ADP to do the same thing. If you do your homework, you would find that this program is a very nice way for you to save money.

My family has presciptions that we fill each month. We also figured out what type of over the counter drugs or helath needs that we spend money on each month. I take that total amount of money and put it in my flexible spending account & it is tax free at that point. I know how much I spend on these things each month, so I know I am going to spend the money that I am putting in there.

Companies that make this available to their employees should be applauded, not accused of trying to rape you over and over again.

[yahoo]

my company offers this benefit and i have been scared to use it but now i see a better picture clearer to say the least......thanks for the good posts guys!!!

[USIC1]

my company offers this benefit and i have been scared to use it but now i see a better picture clearer to say the least......thanks for the good posts guys!!!


Here is some one that did benefit from this thread...



So there- Did you find that???? :woot:!!!!


Just who I least suspected to come to the aid...GEEZ!!!

[yahoo]

never judge a book by it's cover i always say.......never know who will aid you when you are knocked down????????? hang in there dude<>>>>>>>>>>>>>>

[USIC1]

Why do people whine about things that they have failed to explore first.

Flexible spending accounts are regulated by the government. Use it or lose it is a government thing.....it is not another ploy by your company to get money from you or a ploy by ADP to do the same thing. If you do your homework, you would find that this program is a very nice way for you to save money.

My family has presciptions that we fill each month. We also figured out what type of over the counter drugs or helath needs that we spend money on each month. I take that total amount of money and put it in my flexible spending account & it is tax free at that point. I know how much I spend on these things each month, so I know I am going to spend the money that I am putting in there.

Companies that make this available to their employees should be applauded, not accused of trying to rape you over and over again.


It was explored and should be considered ILLEGAL that any outstanding balance of YOUR own money gets confiscated for NO REASON...

The government the company that offers it all get implicated...

[PowerSweep]

If you participate in this program, you are saying that the money you put in is going to be used for out of pocket medical needs. In return, the money is not taxed as part of your income. If you do not spend this money, it would have been taken as taxes anyway.
That is why if you decide to take part in the program, you need to evaluate the amount that you are going to contribute closely. Do not put too much in there or you will not get it back.

[PowerSweep]

It was explored and should be considered ILLEGAL that any outstanding balance of YOUR own money gets confiscated for NO REASON...

The government the company that offers it all get implicated...

I think you are way into the conspiracy theories!!!!!!!!!!!!!!!!

[yahoo]

i have used the ADP flex acct for now 3 years, you have actually until MARCH 30TH the following year to use the money. I started off cautiously with it, however now I take full advantage of it. It is tax free money that I have used now for

Dentist
Dr visits
Surgery
Wife pregnancy
otc medicines (ora gel for my baby, painkillers for me, Migraine relief- we all need that!!)
Script medicine
Chiropracter


Anything medically related you can use this money on, it is a fantastic plan for those who moan about rising insurance costs and want something done about it. I am a huge supporter of this and guess what, it is voluntary so you dont have to use it, however I am saving money every year by using tax free money on things I would buy and have to pay for anyhow. Just sounds like another person who does not have all the facts who wants to complain about another thing. :greenapple:



i think tylerd 75 explained it best in this post.....it seems to me that them taking your moneyin the end is not a wise investment .....but they won't take your money b.c closely monitoring it ...you will spend it on such expenses as above stated.......well said tylerd

[USIC1]

I think you are way into the conspiracy theories!!!!!!!!!!!!!!!!


Why do you have to dance the issue of having your money stolen???

And act like its a good thing if you play games to get the benefit???

Its people like you that let this type of system exist instead of making a stand for a more common sense program that you dont risk having your money taken every year...FOR NO REASON...AGAIN...NO REASON...AGAIN...



"yessum boss any thing you say and its alright..."

It appears thats more of the way this vine is going in my opinion...

Locators on here turned ostrichs these days worrying so much about whats underground there damn heads ended up there...

[USIC1]

I have the option to use an ADP FSA at work, but I don't. Here's the catch folks.......YOU DON'T HAVE TO CONTRIBUTE YOUR MONEY! It is a "optional" benefit. This thread is like someone putting their thumb on a metal table and then smashing it as hard as they can with a big hammer, and then crying and bitching cause their thumb hurts. Jeezum Folks! What happened to the old Cablevine where people cried and whined, but also asked some good questions, or helped out a fellow locator along the way with a locating problem.

Steve, your forum is great, but this place is fast becoming the "TheCrybabyVine" - For Crying, by Criers.


At least Im contributing- we re not talking brainsurgery here...So how much quality material is availabke to share about locating???

We have had to add a variety of "other than" categorys for input to carry the site so it is what it is...

I guess in the end you resort to whatever such as "the stir" for me since bangin a nail or painting a line can only be elaborated on so much...

:bump:

[sprayandpray]

This is a free website - if you don't like the comments move on to another thread. Sort of sounds like Jim Hansen, he's the Global Warming Guru that wants to file criminal charges against anyone that disagrees with him that the Earth is still warming - although for the past 11 years it has remained the same or actually cooled. Let U1 rant all he wants :ylsuper:

[tylerd75]

Just to reiterate on this everyone, I have used for 3 years, I usually use all the money by october that year. Any sensible person can look a year into their future and figure out how much they spend on medical/dental etc expenses and then ask the company to give them that much money to spend.

On jan 1st the ADP Flex Card (which is a visa card) is then loaded with the money (say a $1000) which you can use all at once if you needed too. Then the company takes out the money over the 26 week pay period tax free. Yes you have 15 months to spend it but if you can plan ahead wisely you can use the money easily in that time. When open enrollment happens (normally October time) give it a shot, even if is the minimum ($250 i think) you will spend it on headache medicine anyhow !!!!

[LadyLeatherneck]

While this plan may work for some employees, the majority to do not benefit from it. Most of us can't afford to lose any of our hard earned money. I do understand that the majority of what we would be loosing would be tax dollars, but if you aren't careful and micromanage those funds, it could be your dollars that you loose. Most of us cannot afford to loose any of our dollars. I also understand that this is government controlled and the companies have to follow their rules. I would like to see another option - but the government is the one we have to take that up with, not the employers. So, I've said all that to say this: I'm glad they offer that option through our companies for those who would benefit from it! I like having choices. But for our family "thanks, but no thanks!" I am right ya'll?

[ifinditunderground]

Here is some one that did benefit from this thread...



So there- Did you find that???? :woot:!!!!


Just who I least suspected to come to the aid...GEEZ!!!

I found it. :blahblah::ecomcity:

[yahoo]

i have to wonder how many of us has this benefit and how many of us actually use it....

[Mr Blunderbuss]

One thing I'm not clear about and that is, is USIC1 being FORCED to take this benefit? The places that I've worked at offered this as a CHOICE. There's nothing sinister about this benefit. If one can project how much one pays out in additional medical expenses over the course of a year, one can have that deducted from their paycheck. That amount is deducted from your gross wages and becomes non-taxable.

[PowerSweep]

i have to wonder how many of us has this benefit and how many of us actually use it....

Have it
Use it
Love it

[Lucky219]

It is really a sad state of affairs when you have to learn the details about a benefit that some of us could use. I got a packet in the mail, was told by the DM that the health care saving plan would help people with child care. There was nothing said about otc drugs or other medical expenses. Well I missed the boat on that one but will get it when the next sign up period comes around. I guess the usic hr people are busy doing something else and could not make the rounds and answer questions that the cls people might have had. Got to go just got paged for a sewer line repair. My thanks to all for the info.

[sprayandpray]

Why do you have to dance the issue of having your money stolen???

And act like its a good thing if you play games to get the benefit???

Its people like you that let this type of system exist instead of making a stand for a more common sense program that you dont risk having your money taken every year...FOR NO REASON...AGAIN...NO REASON...AGAIN...



"yessum boss any thing you say and its alright..."

It appears thats more of the way this vine is going in my opinion...

Locators on here turned ostrichs these days worrying so much about whats underground there damn heads ended up there...

HELL, that's just doing a proper and thorough "VISUAL SCAN of the area!:tease:

[LocateLady]

I have been using this option for 3 years also. I also get angry about the rule that they get to keep any money I do not use. Do they have a big party at the end of year with it? I have not gotten an invitation.

I have continued to use it because I like knowing I have this money I have set aside for medical and I do not have to make a decision about going to the doctor based on how much is in my checking account.