FSAs (flexible spending accounts) enable you to pay medical and dependent-care expenses above and beyond those covered
Fantastic news! We've Found the answer you've been seeking!
Question:
FSAs (flexible spending accounts) enable you to pay medical and dependent-care expenses above and beyond those covered by your company's medical and dependent-care plans, on a pre-tax basis. The trick is to estimate your medical and dependent care expenses for the year and determine how much to ask your employer to defer from your yearly salary. For simplicity's sake, assume your company's medical plan has a $1000 deductible and pays 80% of all further expenses. Using the blanks below,
Calculate the optimum amount to defer into an FSA if you estimate your medical expenses to be $3,000 per year and your childcare expenses are $2,500 per year. Estimated yearly
Related Book For
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
Posted Date: