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Something you need to know about healthcare spending accounts
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<blockquote data-quote="gumbybros" data-source="post: 294934" data-attributes="member: 796"><p>I'm a Full Time driver In Pa. But it is available to everyone here. When I spoke to an office person that deals with disability cases for the company she said she had just learned about it because the same thing had happend to a woman in her office. It's a good deal if you can deal with the paperwork. Let's say your wife works and you're in the 25% tax bracket. If you put $1000 in to a HSA and USE it, it will save you $325 in taxes (you don't pay social security tax on it either). If you don't use it within the time frame allowed (by March 15 of the following year) Uncle Sam say thanks for the donation and confiscates what is left. I'm getting some very expensive dental work done this year and between my wife and I we are putting $8500 into our HSA. That will be a tax savings of almost $2800. Not too shabby! But imagine if I was on disability when I got the dental work done and didn't learn about the rules till then? I would have had a stroke. People stand to lose a lot of money if they aren't informed of the rules.</p></blockquote><p></p>
[QUOTE="gumbybros, post: 294934, member: 796"] I'm a Full Time driver In Pa. But it is available to everyone here. When I spoke to an office person that deals with disability cases for the company she said she had just learned about it because the same thing had happend to a woman in her office. It's a good deal if you can deal with the paperwork. Let's say your wife works and you're in the 25% tax bracket. If you put $1000 in to a HSA and USE it, it will save you $325 in taxes (you don't pay social security tax on it either). If you don't use it within the time frame allowed (by March 15 of the following year) Uncle Sam say thanks for the donation and confiscates what is left. I'm getting some very expensive dental work done this year and between my wife and I we are putting $8500 into our HSA. That will be a tax savings of almost $2800. Not too shabby! But imagine if I was on disability when I got the dental work done and didn't learn about the rules till then? I would have had a stroke. People stand to lose a lot of money if they aren't informed of the rules. [/QUOTE]
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Something you need to know about healthcare spending accounts
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