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| Topic | I'm not signed up for any preventable care or flex account at work |
| PatrickMahomes 11/02/21 11:49:12 AM #7: | Veggeta_MAX posted... I'm on the healthcare plans but not on those flex plans where they take some of your money every pay check so you can use it as extra funds for medical issues.For sure. I'd recommend it, especially if your employer matches, most usually do. HSA - This is basically a tax shelter. You can put a set amount per paycheck and it will just gradually build. However, you can only spend it on a medical/dental/health related expenses. FSA - Similar tax effects I believe. The difference with this one is, the money you put in will expire at the end of a given year. However, you have a much larger variety of things you can spend this money on, whereas the HSA is very limited. https://fsastore.com/ has a ton of things you can spend the money on that you wouldn't be able to use your HSA for. I personally go with HSA to avoid the risk of forgetting to spend the money (or being "forced" to spend it all by the end of the year since it doesn't roll over). I put $20 per paycheck in there and employer will match up to $420/yr. Currently got around 2.5k in there. It's just a safety blanket more or less. Like a small rainy day fund on which you don't have to pay taxes in the event of some minor health incident. --- ... Copied to Clipboard! |
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