Comments on: Don’t Forget To Take Advantage Of All Your Benefits http://www.mymoneyblog.com/dont-forget-to-take-advantage-of-all-your-benefits.html Personal Finance and Investing Blog Sun, 12 Feb 2012 01:43:13 +0000 hourly 1 By: Jill Foster » Blog Archive » ask ask ask: your employer’s benefit’s plan http://www.mymoneyblog.com/dont-forget-to-take-advantage-of-all-your-benefits.html#comment-110076 Jill Foster » Blog Archive » ask ask ask: your employer’s benefit’s plan Mon, 09 Jun 2008 02:55:31 +0000 http://www.mymoneyblog.com/archives/2006/11/dont-forget-to-take-advantage-of-all-your-benefits.html#comment-110076 [...] The Money Blog, the ever credible source comments on potential benefits which you may not be aware of — cool eye care & flex spending accounts. [...] [...] The Money Blog, the ever credible source comments on potential benefits which you may not be aware of — cool eye care & flex spending accounts. [...]

]]> By: Scott http://www.mymoneyblog.com/dont-forget-to-take-advantage-of-all-your-benefits.html#comment-23802 Scott Wed, 29 Nov 2006 18:38:19 +0000 http://www.mymoneyblog.com/archives/2006/11/dont-forget-to-take-advantage-of-all-your-benefits.html#comment-23802 My vision care is an add-on. We get glasses/frames every year, but I only replace my glasses every 16-24 months so I only join every other year. Definitely come out ahead. My vision care is an add-on. We get glasses/frames every year, but I only replace my glasses every 16-24 months so I only join every other year. Definitely come out ahead.

]]> By: gjg http://www.mymoneyblog.com/dont-forget-to-take-advantage-of-all-your-benefits.html#comment-20478 gjg Sat, 18 Nov 2006 00:46:58 +0000 http://www.mymoneyblog.com/archives/2006/11/dont-forget-to-take-advantage-of-all-your-benefits.html#comment-20478 My plan for the past few years for my FSA has been to get Lasik or other eye surgery done at the end of the year if no crises have come up to use it up. However, my eyes have been changing since I switched to soft contacts from hard contacts a few years ago, so much that I don't want to commit to surgery yet. Ah well - the FSA ends up going to a new pair of glasses (while my vision plan provides the exam and contacts). This coming year, I'm actually raising my FSA contributions. My company dropped the HMO I'm really happy with, but they're allowing me to drop medical coverage entirely. The HMO has a high-deductible plan that goes along with an MSA. Nice things about the MSA: Tax-free going in *and* coming out as long as you use it for medical expenses, and it rolls over from year to year. I'm going to fully fund the MSA, but fund my FSA to the deductible limit and pay the deductible from that (as feasible) - leaving me money rolling over in the MSA. It's not the cheapest option available, but it does give me a reasonable rate for my preferred HMO and let me save for future medical expenses tax-free. My plan for the past few years for my FSA has been to get Lasik or other eye surgery done at the end of the year if no crises have come up to use it up. However, my eyes have been changing since I switched to soft contacts from hard contacts a few years ago, so much that I don’t want to commit to surgery yet.

Ah well – the FSA ends up going to a new pair of glasses (while my vision plan provides the exam and contacts).

This coming year, I’m actually raising my FSA contributions. My company dropped the HMO I’m really happy with, but they’re allowing me to drop medical coverage entirely. The HMO has a high-deductible plan that goes along with an MSA. Nice things about the MSA: Tax-free going in *and* coming out as long as you use it for medical expenses, and it rolls over from year to year.

I’m going to fully fund the MSA, but fund my FSA to the deductible limit and pay the deductible from that (as feasible) – leaving me money rolling over in the MSA.

It’s not the cheapest option available, but it does give me a reasonable rate for my preferred HMO and let me save for future medical expenses tax-free.

]]> By: Steve the K http://www.mymoneyblog.com/dont-forget-to-take-advantage-of-all-your-benefits.html#comment-20412 Steve the K Fri, 17 Nov 2006 19:11:57 +0000 http://www.mymoneyblog.com/archives/2006/11/dont-forget-to-take-advantage-of-all-your-benefits.html#comment-20412 I'm guilty of having dental coverage through work but not using it in years. The plan I had, the least expensive one, had a limited choice of dentists, even fewer were/are taking new patients, and the ones I've tried I didn't like. Starting in January, however, I will change dental plans to a more expensive PPO. More dentists on this plan, including one that I tried years ago and didn't object to. Maybe the additional cost will be more motivation to get my semiannual cleanings. I’m guilty of having dental coverage through work but not using it in years. The plan I had, the least expensive one, had a limited choice of dentists, even fewer were/are taking new patients, and the ones I’ve tried I didn’t like.

Starting in January, however, I will change dental plans to a more expensive PPO. More dentists on this plan, including one that I tried years ago and didn’t object to. Maybe the additional cost will be more motivation to get my semiannual cleanings.

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