Do you have a Flex spending account (FSA)? FSA is one of a number of tax-advantaged financial accounts that can be set up through a cafeteria plan of an employer in the United States. An FSA allows an employee to set aside a portion of earnings to pay for various medical expenses.
I write today because one of my patients came in the other day and said she still had $1200 left on her FSA. The down side is if you do not use it you lose it.
The FSA is a great tool to help pay for complementary medicine and out of pocket medical expenses. There is a tax benefit as this money is pretax.
So if you have FSA that still has money left for the year come in and use it. If you do not, it would be good to consider it to help pay for your out of pocket medical expenses with pre-tax dollars. Talk to your employer to see what they offer. If you are not working, then you qualify for a Health Savings Account. See my previous article on this.
Cynthia Bye, ND
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