Are you considering participating in a Medical Care FSA for 2018?  You can use the money you’ve set aside to pay for medical expenses not covered by insurance, such as copays for office visits & prescriptions, vision expenses after insurance including Lasik, and dental care or orthodontia (both preventative and restorative) after insurance.  Some over-the-counter expenses that qualify (unless reimbursed by insurance) include:  diabetic supplies, contact lens solution, denture adhesive, personal test kits, blood pressure meter, adhesive or elastic bandages, and thermometers.

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.  Open enrollment will be here before we know it so you may want to start considering whether or not you will elect to contribute funds to a Medical Care FSA in 2018. 

Why enroll in a Medical Care FSA?

• Save an average of 30% on a wide variety of eligible healthcare expenses by paying for them on a pre-tax basis
• No waiting- access the full amount of your annual election amount on the first day of the plan year
• Save time- choose from several convenient no hassle payment and reimbursement options