NY Times – A Flexible Spending Account Deadline May Be Near

New York Times logoNY Times – A Flexible Spending Account Deadline May Be Near

March 15 did not have the same panache as April 15th does in financial lore but for those with Flexible Spending Accounts or FSA’s it had “Use it or lose it” repercussions notes New York Times journalist Ann Carrns. That is, pre-tax dollars can be set aside in a FSA to pay medical deductibles, orthodontic fees, glasses, etc. However, many employers have FSA that expire at the end of the year although the trend is lately to extend that to March 15th.  Employers could also choose to let employees carry over $500 to the next year as a buffet choice, either you got the extended March 15th deadline OR you got to carry over the extra $500 to the next benefit year.

A lot of employers do not detail which plan they offer so employees would be wise to contact their HR department o see which version if any of the FSA they  have. It can pay for a lot of expenses except for over the counter medications.

Like a flexible spending deadline, medical billing has its own deadlines. Doctors do not paid for their services until they correctly submit their bills. Correctly submitting their bills has become even more difficult with the adoption of the ICD-10. The ICD-10 has over 70,000 diagnosis entries and if it is wrong, payment is delayed by the insurer causing payment delay, office revenue reduction and office inefficiency.

This is where Physicians Medical Billing service can greatly assist. We are ICD-10 and medical billing experts. We can use or your office staff can use our sate of the art cloud infrastructure with our strong billing software. We bill within 24 business hours when we perform the billing and we do not get paid until our clients get paid. Thus we incentivize ourselves to do it right the first time. Owner Michelle Stahl is available to discuss this at 703.978.0756 or use our medical billing company online contact form to get a quote now. It will be the best business decision you made since deciding to go to medical school or to work for a physician’s office.

To read, ‘A Flexible Spending Account Deadline May Be Near’ on the New York Times web site, click here.

By Michelle Stahl, Owner, Physicians Billing Service

You can Find Michelle Stahl, Owner of Physicians Billing Service on Google+.


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