Pre-tax benefits are simple to use. Click each step to learn more.
To start saving on your expenses with FSAs, you need to sign up during open enrollment – the time of year, usually in the fall, when you have a chance to reevaluate and reenroll in your employee benefits. And, while you’re at it, it’s a great time to review your commuter benefit needs too, since you can enroll for commuter benefits at any time.
If you don’t know if you have access to pre-tax benefits, ask your HR director or benefits manager if your employer offers one or plans to offer them along with other employee benefits.
“My family has used a flexible spending account and a dependent care account for eleven years. We have two children, one with braces and one with a retainer. The cost of orthodontia was more than $7,000 in 2009 alone. Flexible spending accounts have allowed us to save a substantial amount on costs that are not covered by our health insurance company.”
Annual Savings: $1,400