Tuesday Tidbit

Image of Flex Spending Wage Works Credit Card

Open Enrollment is just around the corner!  Have you considered enrolling in a Medical Care Flexible Spending Account (FSA)?  It is a pre-tax benefit account used to pay for eligible medical, dental, and vision care expenses that aren’t covered by your insurance plan or elsewhere, such as copays for office visits and prescriptions and vision and dental care expenses after insurance. It’s a smart, simple way to save money while keeping you and your family healthy and protected.  Each paycheck, you set aside some of your pay, before taxes, to use for eligible expenses.  This is how you save money:  $100 put into your FSA is $100 to spend on eligible medical expenses.  Without an FSA, you pay taxes, leaving $60 or $75 (depends on your tax bracket) to pay for eligible expenses. 

Take a look at the list of eligible expenses to see if you're paying out of pocket for expenses that you could be paying for on a pre-tax basis by enrolling in a Medical Care FSA in 2018!

Date: 
October 24, 2017