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Save 25% to 40% on Health Expenses If your employer-sponsored health care plan includes a high deductible, you may be paying out of pocket more than you need to be. Many employers offer cafeteria plans to their employees, including benefits such as flexible spending plans. With a flexible spending plan from take care, you could actually save 25% to 40% on health expenses. Use FSA Accounts to Save 25% to 40% on Health Expenses Flexible spending plans allow you to use tax-free dollars to pay for health care costs not covered under your health insurance plan. With a deductible of $1,000, this can include co-pays, doctor visits, over the counter medications and other services. Since the money you put into this count is deducted prior to taxes being calculated, you actually pay less in taxes. This tax savings can turn into extra money in your pocket every month. By paying your insurance premiums through your plan as well as your monthly health costs, you save 25% to 40% on health expenses, despite the fact that you are paying for items you would have paid for either way. Plus, with a take care debit card connected directly to your flexible spending account, you can access your funds at the point of purchase, reducing the amount of reimbursement paperwork you need, and in many cases, eliminating it altogether. In addition to making it possible to save 25% to 40% on health expenses, flexible spending accounts can also be used to pay for day care, elder care, and adoption expenses. They also may cover transportation and parking costs for work, adding even more to your overall savings. |
Additional Topics Consumer-Directed Health Plans Consumer-Driven Health Accounts Dependent Care Flexible Spending Accounts Flexible Health Spending Accounts Flexible Medical Expense Accounts Health Care Flexible Spending Accounts Health Reimbursement Arrangements IRS Section 125 Cafeteria Plans Medical Expenses and Income Tax Plan for Medical that Health Insurance Doesn't Cover Save on Co-Pays and Over-the-Counter Medications Save on LASIK and Orthodontic Costs Section 125 Plan Administration |
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