Saving on Healthcare
Benefits enrollment season is fast approaching, and if you work for a large company chances are you'll have the opportunity to sign up for a Flexible Savings Account (FSA). As reported in the Chicago Tribune, FSAs enable you to use pre-tax dollars for everything from doctor co-pays to aspirin, which can add up to hundreds of dollars in savings per year. More than 80 percent of large employers offer FSAs (as do about one-third of small employers), and yet just 20 percent of eligible employees participate. While time-consuming reimbursement procedures turned many people off from FSAs when they were first introduced, the article noted that the programs have become much easier to use.
Matt's View
Does your employer offer a FSA? Call your HR or benefits department to find out. And if so, sign up. Healthcare is too expensive to leave some easy savings on the table. For a good overview of FSAs, read the full Tribune article .
This article filed in: Health
Managing Money by The Book
- "To keep me from becoming conceited because of these surpassingly great revelations, there was given me a thorn in my flesh, a messenger of Satan, to torment me. Three times I pleaded with the Lord to take it away from me. But he said to me, 'My grace is sufficient for you, for my power is made perfect in weakness.'" - 2 Corinthians 12:7-9
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