Does anyone suggest opening an FSA with a Premium PPO healthcare account for low deductible but optimal way to save on health costs but still plan for the future? Good idea or no?

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FSAs have to be spent within the year. HSAs can be carried over years.

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I look at the HSA as part of my retirement savings... if I don’t use it now, it could help offset the costs of assisted living (or addressing any other horrible medical costs associated with getting old).

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My financial planner recommended this last week. If you don’t plan on having a major cost year (birth, surgeries, etc) it can be another clever way to sock away for the future.

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“... for the future.” I think you mean an HSA.

likehelpful

I mean, at least throw in part of your deductible. You can use it for everything from a visit to the dentist to eye care to Aleeve to sunscreen. There’s a website called FSAstore.com that sells all products that are FSA eligible. I usually blow any remaining balance at the end of the year there.

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I’m a single guy, no chronic conditions, but I go to the chiro and I throw in $1500-2k/year. Gets me through the deductible and covers most (possibly all) my remaining copays. If that information is helpful.

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MM1 is right. FSA is use or lose it every year but HSA rolls over. I put enough in my FSA to get the company match and if there’s money left at year end, I either get us new glasses or hit fsastore.com.

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Thursday Daily Quordle 66
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