How much should I put in my medical Flexible Spending Account?
November 24, 2008 3:35 PM Subscribe
How much should I put in my medical Flexible Spending Account for next year?
posted by grouse to Work & Money (6 answers total)
I am in the 25 percent marginal tax bracket. The minimum is $240 for the year.
If I put $240 in and I spend at least $192, then I have broken even. Given that I have a $200 deductible on my medical insurance, that seems likely, as that is less than the cost of two visits to a general practitioner, or one visit to a specialist. On the other hand, now that I live in a country where I have to pay to visit the doctor, maybe I won't be assured of a couple of visits beyond an annual physical (free).
I don't have any expenses that I can definitely expect, such as ongoing drug prescriptions. Searching through previous AskMes reveals a wealth of things I could spend the money on rather than waste it. I've never done this before so I would welcome your thoughts.