Flexible Spending Accounts are becoming ever more popular. Why? Tax savings is the biggest reason. Many employers offer this important benefit that allows employees to set aside pretax money to be used toward eligible health care expenses.
The American Association of Orthodontists reports that about one in four new orthodontic patients use FSA funds toward orthodontic treatment for themselves or their children.
In addition to paying for orthodontic treatment, allowed expenses may include out-of-pocket costs for pharmacy and physician visit copays, some over-the-counter medicines, and services that are not fully covered by insurance such as eyeglasses, hearing aids and dental care.
FSAs help to make healthcare affordable. They are one of the few remaining tools Americans have which allow them to make independent decisions about their personal health care expenditures.
Check to find out if your FSA funds roll over or have a "use it or lose it by year's end" rule. Check with your employer for the dates of their FSA open enrollment period as well as guidelines that are specific to your employer's plan. Find out how much of your account can roll over from year to year.
We can help you map out the timing of your treatment and the best use of your FSA funds and other benefits.
Give us a call-be sure to make an appointment in time to utilize your benefits before they might be gone.
17680 SW Handley St., Suite 202
Sherwood, OR 97140
3100 Haworth Ave., Suite 210
Newberg, OR 97132