Health Care Flex Plans: Avoid Losing Money
The costs of health care continue to rise, and whether you work for yourself, getting self-employed health insurance, or whether you work for a company that offers benefits. And one way that some companies are trying to cut health care costs is by offering health care flex plans, that also allow you to use the money on vision and dental visits.
But here’s the kicker: Even though the money in health care flex plans is taken out pre-tax, most plans require you to use the money in there or lose it. So if you you have $6,000 in your health savings plan, and you only use $5,000 of it, you’ve just lost $1,000.
In order to avoid this scenario, put less into your health savings plan than you think you’ll need. You can put the remainder aside in a high yield savings account or money market account. That way, if you need the money, it’s available to you, but if you don’t need it, you don’t lose it.
Tags: avoid-losing-money, health-care-flex-plans, health-savings-account, Personal Finance, personal finance blog, self-employed-health-insuranceRelated Stories
POSTED IN: Family finances, Mortgage and Loans, Saving Money
0 opinions for Health Care Flex Plans: Avoid Losing Money
No one has left a comment yet. You know what this means, right? You could be first!
Have an opinion? Leave a comment: