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  1. #1
    Join Date
    Jul 2001
    Location
    Houston, TX
    Posts
    920
    Does anyone have one and recommend this route vers the old and expensive health insurance coverage? The benefits seem to outway the traditional HMO/PPO plans. I like that the money is yours if not used, its tax free and gains interest.

  2. #2
    Join Date
    Nov 2004
    Posts
    440
    I have one, but I really don't think it's all that great. Paying full price for all medical bills and prescriptions until I reach my $1700 deductible can be a little salty. For example, I got sick this winter and had to go to the doctor. The office call and the strep test cost about $250. I got four prescriptions (I was really sick!) which totaled about $278. Well guess what? I only had about $125 left in my medical savings account, so the balance of $403 I had to pay out of pocket. Needless to say, at that time I really wished that I had a better plan!

  3. #3
    Join Date
    Mar 2003
    Location
    Cincinnati
    Posts
    7,977
    If you are talking about a Flex Spending account I use it and love it. You just have to be sure and use it all up before the end of the year or you loose it.

    I do a bi-weekly deduction from my pay check and it ends up being around $500 bucks annually and I always wait till the end of November to claim it and it comes in time for Christmas money.

    Now they have like a credit card with the account and from what I understand it's good up to the amount that will be deducted and you can use it for copays and such.

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