Manisha's Money Saving Tips

Why You Should Save Smart & Spend Healthy with an FSA

By Manisha Thakor | August 9, 2010

Hello there! Are you looking for ways to maximize your money? If so, you've come to the right place. As a personal finance author with more than 15 years of experience in the financial services industry, I've learned that managing your money does not have to be complex. In fact, by following a few simple, common sense financial steps, many hard-working Americans can sit firmly in the financial driver's seat of their lives.

If you are reading this message the odds are high that either you or your spouse has access to one of personal finance's best kept secrets – the flexible spending account (aka "FSAs"). I've teamed up with WageWorks – Save Smart, Spend Healthy campaign to help raise awareness about this fabulous employee benefit for highly personal reasons.

Over the years, I've been blessed to work for employers that have provided excellent benefits, like FSAs. As someone who suffers from three chronic conditions not always covered by health plans (depression, psoriasis, and adult acne – ugggh), I routinely had sizable out-of-pocket costs for medications and co-pays for specialist doctor visits. As I worked to manage my depression and clear up my psoriasis and adult acne, it became crystal clear to me what a financial gift an FSA is.

The bottom-line is that FSAs are exclusively designed to help hard-working Americans keep more of their hard-earned money, better manage their health care and save on the routine out-of-pocket health expenses we all face.

As you'll learn by exploring the Save Smart, Spend Healthy website, participating in your employer's FSA is a lot like standing in the checkout lane at the grocery store and having the person behind hand you a coupon worth up to 40% on your purchase. You'd be crazy not to accept. That's why I'm here. To help you make the best choice for you and your family when it comes to your employer's FSA benefit.

Real Stories. Real Users.

Abby

From Florida

“My FSA is a life saver! Last year I was diagnosed with a malignant tumor and luckily I was able to have the necessary surgeries to remove it immediately since my FSA covered all of the out-of-pocket costs for my deductible and medicines.”

Annual Savings: $816

Read more about how real people use their pre-tax benefits.