Comments on: Save Money on Health Care: Health Savings Account vs Flexible Spending Account

By: PT Money

PT Money — Thu, 01 Jan 1970 00:00:00 +0000

I totally forgot to include info on the DCSA. Maybe I’ll do a whole post on that one. Hey, Kim Russell Prato, that’s pretty sweet about the $500. Not chump change.

By: Kim Russell Prato

Kim Russell Prato — Thu, 01 Jan 1970 00:00:00 +0000

I know! Right? And they do the health screenings at work so there’s really no excuse for not getting the free money!

By: Kim Russell Prato

Kim Russell Prato — Thu, 01 Jan 1970 00:00:00 +0000

Yes, I love using mine. I just started using them about 2 years ago and wish that I had started using them a lot earlier. The one for RP’s daycare expenses comes in so handy and the reimbursement that I get back after submitting a claim is like a fun payday for me! My employer has also started giving a “wellness credit” to employees who complete a 2-3 step physical. We get $500 that goes into our HSA!

By: Joe Durika

Joe Durika — Thu, 01 Jan 1970 00:00:00 +0000

Love our HSA and our DCSA (dependent care spending account). The money is taken out pre-tax, so we have a $9,000 deduction right off the bat. Now if they would increase the DCSA limit to meet inflation, that would be awesome.

By: Susan

Susan — Thu, 01 Jan 1970 00:00:00 +0000

We have used the FSA for years. It provides great tax savings and is available at any time….and we have never lost any money at the end of the year because we put in our prescription drug costs, deductibles and co-pays only.

We are not able to use the FSA for OTC items. I think this was a change to the law? Not sure.

By: Jenna, Adaptu Community Manager

Jenna, Adaptu Community Manager — Thu, 01 Jan 1970 00:00:00 +0000

I didn’t use one last year, but I’m thinking about signing up for one this year. Know of any good calculators to do an estimate of how much one should be saving?

By: Mike d.

Mike d. — Thu, 01 Jan 1970 00:00:00 +0000

Might want to double check me on this, but I think I read where OTC meds. will no longer qualify beginning 2012. At least for HSA.

By: Jackie Walters

Jackie Walters — Thu, 01 Jan 1970 00:00:00 +0000

Hi PT -

We have an HSA and the long term idea behind them are great. We’ve never met our deductible which is a good thing but what money we have in the HSA account tends to get used up before we have a chance to actually save anything in it.

Jackie.

By: Sam

Sam — Thu, 01 Jan 1970 00:00:00 +0000

Thanks for educating the general public about the health savings accounts and the flexible health savings account and how they differ and how they work. I was not even aware that these types of savings accounts were available. Now I do. It’s interesting way to save money for health related reasons.

By: Bob

Bob — Thu, 01 Jan 1970 00:00:00 +0000

I have had an HSA with United Healthcare for 3 years now and I have and still am a huge fan of my HSA. I love the fact that the money in the account rolls over and that I can get an above the line tax deduction for everything I contribute into the account (up to the IRS limit).