Episode 60, The Marshall Art of utilizing a flexible spending account OR make your pre-tax dollars pull double duty!

With a Healthcare FSA, your full annual election is generally available at the beginning of the plan yea even though you are funding it throughout the year. Let’s say you elect to contribute $2,400 for the plan year. In February, you unexpectedly need a medical procedure that costs $2,000. Even though you’ve only contributed a few hundred dollars so far, your Healthcare FSA may reimburse the full eligible amount because your annual election is available upfront. That’s a unique advantage of Healthcare FSAs.