18 Sep The Benefits of Flexible Medical Spending Accounts
Do you know what a flexible spending account is? A health flexible spending account (FSA) lets you use pre-tax dollars to pay for eligible health care expenses for you, your spouse, and your eligible dependents. This is when money is set aside from your paycheck, for medical expenses, before taxes are taken out. This is a great idea to help you save on your taxes, and help you save for any planned operations or medical issues that arise.
The maximum amount you can contribute to a FSA in 2017 is $2700. The 2018 FSA maximum has not yet been released by the IRS.
For more information about health savings accounts, call me for personalized advice. I can help you determine if this is the right choice for you.