Seven ways to save on 2013 health insurance bills (First find list of IRS-approved expenses)

The Day ^ | 11/11/12 | MARCIA HEROUX POUNDS

[Libloather]

Seven ways to save on 2013 health insurance bills
By MARCIA HEROUX POUNDS
Sun Sentinel
Updated 11/11/2012 12:15 AM

**SNIP**

• Set pre-tax dollars aside. Use a flexible spending account either from your employer or a third party, such as a bank, to deposit money to cover health costs not covered by insurance. Find the list of IRS-approved expenses on your health insurer's website.

Note that contributions in 2013 for flexible spending accounts have been lowered to $2,500 in 2013, but Byers said she doesn't think it will affect most people. "I don't see many people using the full $5,000," she said.

[Libloather]

Very strange.

[StAnDeliver]

FSAs were fine until they chipped away at them, no OTCs, now coverage slashed in half. Screw it.

[muawiyah]

Most of the people affected will be the very young and the very old ~ $5000 ain't no thang when you are buying braces for your kids, or putting in post and pole implants so you can eat.

Obama's intention is to harm children ~ dude's a pervert and so's his old lady. She wants to feed them harmful food and starve them.

We need to start treating Democrats like the scum they really are.

[Recovering Ex-hippie]

But you need a real political opposition for that and the Reps aren’t that.

[libertarian27]

With Øbamacare HealthInsurance costs skyrocketing...No one will be able to afford the higher deductibles to actually go to the Doctor.

[muawiyah]

The Republican party is a coalition made up of many diverse groups. 85% of the party's coalition members are quite normal folks who who respond to normal social encounters appropriately. 15% of the party's coalition members are more interested in making money than on any other factor and fear insulting the people whose pockets they intend to pick.

We have identified them as the GOP-e ~ folks focused on only themselves and nothing else.

They can be purged and we should start on that now.

[Libloather]

No wonder Congress wanted to be exempt from Commiecare™.

[MagnoliaB]

“In a flexible spending account, money must be used by year-end”

Correct me if I’m wrong, isn’t the money tax deductable but if you don’t use it by the end of the year, you lose it?

[Reddon]

We need to start treating Democrats like the scum they really are.

I believe that. It irritates me to hear my daughter refer to her "Liberal friends". These people are destroying America and yet we can refer to them as our "friends". I have no liberal friends anymore, none at all.

[Eye of Unk]

I’m surprised that people are even willing to cooperate with the IRS, are actually trying to live with Obamacare.

Personally I would give them all the finger, leave them nothing to confiscate and then hit the road for greener freer pastures.

One must truly have the conviction to follow through with their instincts, if you cave in you lose.

[perez24]

The money comes off the top of your gross pay so it’s not taxed.

Some plans allow you to carry it over until March of the following year.

Orthodontia can eat up 5k, much less 2.5k pretty quickly.

If you end up with money near end of the year, and someone in your families wears contacts or glasses, seeing your optician is pretty effective way to spend what’s left.

[Reddon]

...15% of the party's coalition members are more interested in making money than on any other factor and fear insulting the people whose pockets they intend to pick. We have identified them as the GOP-e ~ folks focused on only themselves and nothing else.

How do you figure its only 15%? If it's that low then there is some hope.

[Rusty0604]

That’s correct. A few years ago there was an option given to extend it for only 3 months. I’ve lost money that way.

[muawiyah]

it's probably less, so I compromised with the 20% Romney seemed to be able to pick up regularly over the last 5 years in primaries.

Those numbers can't all be Temple Recommends you know ~ simply not enough of them, so there's some other small category pushing their numbers up. Maybe the Episcopals and other catholic-like quasi protestant church people? I really don't know ~ just never saw a good analysis done on who votes for Romney in primaries.

[muawiyah]

Liberal don’t even love their own children.

[Chode]

Flex Spending Account yes, but if you have a High Deductible policy you can get a Health Savings Account that is through a bank and rolls over every year so even if you are laid off or retire it's STILL YOURS... but still no OTC drugs etc

at least that's the way it is where i work here in NY

[Alberta's Child]

I know someone who very astutely figured out how to purchase over-the-counter medications while still meeting the letter of the law when it comes to IRS regulations: Get a doctor to prescribe the OTC products even if they don't require a prescription. Heck, this even enables you to buy ordinary pain medication, anti-dandruff shampoo, etc.

[JIM O]

Bump

[Alberta's Child]

P.S. This is how the same guy managed to have his kid’s braces paid as a tax-deductible expense. Instead of doing them as a normal elective procedure, he first had a dentist provide documentation indicating that his kid “needs” the braces to address some kind of oral medical problem. Voila! What once was a “cosmetic dental procedure” suddenly became a “necessary medical treatment” under IRS rules.