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Did You Know?

Discover how Flexible Spending Accounts (FSAs) can help you save on out-of-pocket health care expenses by using pre-tax money. Learn about eligible expenses and tax-saving benefits to make the most of your employee benefits. Sign up for an FSA today and start saving!

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Did You Know?

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  1. Did You Know?

  2. Employees are now contributing 45% more to their health care expenses than they did five years ago. Towers Watson/NBGH Employer Survey, April, 2011

  3. That’s right.

  4. And if you have a family, you know your out-of-pocket expenses have gone up too.

  5. Just take a look…

  6. A family of four can expect to pay over $3,000 a year in medical expenses not covered by insurance!

  7. That Includes:

  8. Out-of-Pocket Expenses Annual Average Taxes Saved (25% Tax Bracket) Physician: $940 $254 Pharmacy: $660 $178 Inpatient Hospital: $870 $235 Outpatient Hospital: $430 $116 Other: $105 $28 TOTAL: $3,005 $811

  9. But, if that $3,000 is put into a Health Care FSA, a family could save over in taxes. $800 Out-of-pocket expenses through member cost sharing at time of service. Per Milliman Medical Index 2010, published May 2010

  10. That’s becausethere is a tax-saving benefit

  11. that can save you an easy 20-30 percent on your hard-earned money,

  12. And, 100% of employees are eligible toenroll –

  13. A Flexible Spending Account (FSA).

  14. FSAs let you use pre-tax money

  15. to pay for medical expenses not covered by your health plan.

  16. So, whether you need to pay for

  17. Prescription Copays

  18. Glasses

  19. Contacts

  20. Dental Expenses

  21. Braces

  22. Allergists

  23. EligibleOver-the-Counter (OTC) items

  24. In-vitro Reproductive Services

  25. Speech Therapy

  26. FSAs are a guaranteed discount

  27. on money you’re already spending on health care.

  28. And, FSA dollars can also be used for

  29. Licensed family or child daycare centers

  30. And, Day Camps

  31. Life Happens.

  32. Be prepared

  33. To Save

  34. On Your Out-of-Pocket Health Care Expenses.

  35. Maximize Your Employee Benefits

  36. You

  37. Will

  38. Save

  39. BIG!

  40. Sign Up for an FSA Today and Start SAVING Right Away! Start right away

  41. Look for details during open enrollment, or talk to Human Resources for more information.

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