My husband is being offered one at work and i guess i'm not sure of the ins and outs of it all can s omeone tell me.
Each one works a bit different, but in my case, I have money taken out each paycheck (to total $2000 per year, the maximum I'm allowed). Then I fax in anything that's eligible (doctor co-pays, prescriptions, etc) and get reimbursed from my account. This money is taken out pre-tax, so it's definitely worth it to me... save approx. 30% each year in everything that I submit to them.
My husband is being offered one at work and i guess i'm not sure of the ins and outs of it all can s omeone tell me.
We were told by HR that as of Jun 30, 2012, we could only deduct a total of 2500.00 per year. In previous years I had 3200.00 deducted but couldn't anymore due to "Obamacare". Did any one else run into this? I see that some of you are deducting a lot more. I work at a university but that shouldn't make a difference, should it?
Starting in 2013, the new healthcare law limits the deduction to $2500. Before that law, employers could set the limit as high as $5000. So in effect, that is a tax increase in disguise. But I will leave it at that.
My husband is being offered one at work and i guess i'm not sure of the ins and outs of it all can s omeone tell me.
We were told by HR that as of Jun 30, 2012, we could only deduct a total of 2500.00 per year. In previous years I had 3200.00 deducted but couldn't anymore due to "Obamacare". Did any one else run into this? I see that some of you are deducting a lot more. I work at a university but that shouldn't make a difference, should it?