It’s one thing to hear that enrolling in an FSA can save you money. It’s another thing entirely to actually see the money you save by setting aside pre-tax dollars over the course of an average year. As we’re currently halfway through the plan year, it’s an ideal time to assess your current spending specific to both healthcare and dependent care.
The year 2020 has been anything but typical, especially regarding regulations and guidelines around FSA benefits. Maybe you’ve spent less than expected on healthcare- or dependent care-related costs, maybe you’ve spent more. Nonetheless, there’s no better time to start planning ahead for the next plan year.
OneBridge Benefits recently launched a tool that provides clear assistance in the decision-making process as you look to set your budgets for a new plan year. Our Savings Calculator allows you to input various health-related expenses, such as copays, prescriptions, dental and vision expenses, and dependent care costs, and see how much you stand to save if you elect to use the pre-tax funds associated with your FSA to pay for those expenses.
There are several other health- and dependent- related expenses to consider, all of which are important, personal, and should be vetted as qualified. Using the OneBridge Benefits Savings Calculator can help you start the review process.