If you have access to a Healthcare Spending Account or a Flexible Spending Account at your work and aren't taking advantage of these accounts, you are missing out on an opportunity to use pretax dollars to pay for your medical, prescription drug, dental and vision co-payments. That can make a big difference, depending on your tax bracket. For example, if you are in the 24% tax bracket and contribute $2,000 to an HSA, you would need $2,631 to get the same after tax amount (after deducting $631 in taxes).
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HSA's and FSA's to Stretch Your Budget!
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If you have access to a Healthcare Spending Account or a Flexible Spending Account at your work and aren't taking advantage of these accounts, you are missing out on an opportunity to use pretax dollars to pay for your medical, prescription drug, dental and vision co-payments. That can make a big difference, depending on your tax bracket. For example, if you are in the 24% tax bracket and contribute $2,000 to an HSA, you would need $2,631 to get the same after tax amount (after deducting $631 in taxes).