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{ 8 comments… read them below or add one }

1 Squirrelers

It will certainly impact people who smartly take advantage of this nice benefit. I have actively made sure that purchases such as contact lens solution, OTC meds, etc have been made with pre-tax dollars. If you run the numbers, the impact can be more than just a few dollars per family! It can and will add up.

Well, like you said, stock up now!

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2 Khaleef Crumbley

I agree, many families see substantial tax savings by using an FSA for non-prescription items. There are things that most people wouldn’t believe that are covered…at least for the next few months.

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3 Everyday Tips

I completely underestimated how much to save in my HSA this year. My son getting his wisdom teeth out totally blew my plan out of the water!!!

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4 Khaleef Crumbley

I know how that feels! I did that the first year I had an FSA.

We went high this year because of a few anticipated costs…we still have a long way to go (although some thing are coming up for us). I would hate to lose the money!

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5 Roshawn @ Watson Inc

It’s unfortunate that OTC drugs are no longer going to be covered unless you try Rx first. It’s unwise to remove incentives for responsible behavior.

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6 Khaleef Crumbley

I think that is the biggest problem with healthcare in this country! We have removed the incentives for healthy behavior and have subsidized unhealthy living! Even insurance companies will deny a claim for preventative care but have no problem paying for coronary treatment!

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7 Peter

I put in several thousand this year because I knew we were having a baby and would have plenty of expenses that would be covered by an FSA. I’ve already maxed out my FSA for the year now that the baby has come – and we’ll end up saving hundreds of dollars in taxes because of our FSA.

Next year? I’m pretty sure I won’t be putting in nearly as much since there are more restrictions and less things are eligible. In 2013 they’ll also be lowering the amount you can put in your FSA as well. *sigh. Good things like this never lasts.

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8 Khaleef Crumbley

We are going to drop our contribution next year as well. We had a few planned expenses this year – nothing as wonderful as a baby! I’m really going to miss all of these benefits because it’s hard to reach that 7.5% of AGI threshold on medical expenses – plus you can write off OTC products anyway.

Thanks for stopping by and leaving a comment!

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