Re: [TSPStrategy] Off Topic: FSAFEDS (folow-up question)

Bill- your savings is coming from your money going in is off the top of your income like the TSP. No match but lowers your income.

On Dec 8, 2020, at 5:31 PM, bill_steele_sr via groups.io <bill_steele_sr=yahoo.com@groups.io> wrote:

Thanks to the many folks who took the time to explain the reimbursement process of this program. I have since signed up for an account.

Maybe I'm having a Senior Moment, but I'm having trouble figuring out the Pre-Tax angle and how it benefits us- Here is what I can't wrap my head around....

... 1) Let's say $40 is taken out (pre-tax) from my pay check. 2) I go to a doctor and pay a $40 co pay at the time of the visit using POST-TAX dollars 3) My insurance issues an Explanation of Benefits and FSAFEDS automatically deposits the $40 co pay back into my checking account. Conclusion= I now have the same $40 returned to my account that I just gave the doctor.

How has this given me any advantage?

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Ditulis oleh: Andriansyah -