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Hi Fishes, Need 11 likes for DM . Please help
Hello guys
Please help me get 11 likes.
New to Chicago - how do I find new friends here?
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Sounds like an FSA, but read the fine print. With FSAs you lose unspent money in the account each year; with HSAs you keep the money for life
Yeah the fine print is very vague. Totally agree about HSA, it's the only reason I'm enrolling in a HDHP. This other reimbursement account option is new to me and I don't understand why people would enroll in it so feel like I'm missing something.
Health Care Reimbursement Account (HCRA) is a “use it or lose it account”. There is no options to invest. You can select other lower deductible healthcare options. So if people don’t want high deductible but other option s you can deject this account to allocate pre tax dollars
Healthcare Spending Account (HSA) is tied to High Deductible healthcare selection. You keep your money. There is a limit you can contribute per year on a pre tax basis. You can invest in funds.
There is also a Limited Healthcare Spending reimbursement account. Pre tax money here is used for dental and vision spending only. People typically have High Deductible health option, have a HSA and than this account
This is a “use it or lose it”. Not sure how much pre tax you can allocate here.
Hope this helps..good luck
My pleasure pass it forward ..