Comments on: Flex Accounts at Risk? http://www.joetaxpayer.com/flex-accounts-at-risk/ Financial Commentary For The Average Joe Mon, 06 Feb 2012 21:56:17 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: JOE http://www.joetaxpayer.com/flex-accounts-at-risk/comment-page-1/#comment-8290 JOE Thu, 10 Sep 2009 02:11:03 +0000 http://www.joetaxpayer.com/?p=1792#comment-8290 Hi Sandy, thanks for stopping to visit my blog. From the Winston-Salem Journal, "According to industry estimates, approximately 48 million Americans use FSAs, and the average participant saves about 30 percent in taxes because FSA funds are exempt from federal and state income taxes as well as FICA." Is that 48 million people or families? I don't know, but either way, it's a lot of people. My 10 year old's braces were nearly $5,000. Insurance picked up $2000. I was counting on the $3000 from me being pretax money. No matter how you slice it, it's a transfer of money. $3000 off the top, or nearly $4500 I have to earn to net the $3000. Hi Sandy, thanks for stopping to visit my blog.
From the Winston-Salem Journal, “According to industry estimates, approximately 48 million Americans use FSAs, and the average participant saves about 30 percent in taxes because FSA funds are exempt from federal and state income taxes as well as FICA.” Is that 48 million people or families? I don’t know, but either way, it’s a lot of people. My 10 year old’s braces were nearly $5,000. Insurance picked up $2000. I was counting on the $3000 from me being pretax money. No matter how you slice it, it’s a transfer of money. $3000 off the top, or nearly $4500 I have to earn to net the $3000.

]]> By: Augustine http://www.joetaxpayer.com/flex-accounts-at-risk/comment-page-1/#comment-8283 Augustine Wed, 09 Sep 2009 15:27:10 +0000 http://www.joetaxpayer.com/?p=1792#comment-8283 Ever since this economic mess started, I knew that it wouldn't be too long before the government would go out of its way to keep its revenue up. At first, by the fringes at small chunks such as FSAs, but it really knows no limits. I can imagine a bunch of other ways that it'll try to come after, slowly but surely eroding our livelihood. Thanks for pointing this out, Joe. Ever since this economic mess started, I knew that it wouldn’t be too long before the government would go out of its way to keep its revenue up. At first, by the fringes at small chunks such as FSAs, but it really knows no limits. I can imagine a bunch of other ways that it’ll try to come after, slowly but surely eroding our livelihood.

Thanks for pointing this out, Joe.

]]> By: sandy http://www.joetaxpayer.com/flex-accounts-at-risk/comment-page-1/#comment-8282 sandy Wed, 09 Sep 2009 13:41:31 +0000 http://www.joetaxpayer.com/?p=1792#comment-8282 I had a flex account once, rather hubby did through work and it was nice. But, so few people have it I'm not sure it would be much of a loss; perhaps not enough to make a difference. No one I currently know has one, or did when we did. I do believe we need health care reform. Too many don't have it, and employers are shirking their responsibilities by altering things at work so they don't have to pay for insurance. Leaving lots of hard working folks out in the cold. Some businesses around here have gone as far as firing people as employees, then hiring them back through an agency so they don't have to give them benefits. The benefits being lost are insurance, flex funds etc. Meanwhile the people at the top are getting fatter with all their fringe benefits. sigh Sandy I had a flex account once, rather hubby did through work and it was nice. But, so few people have it I’m not sure it would be much of a loss; perhaps not enough to make a difference. No one I currently know has one, or did when we did. I do believe we need health care reform. Too many don’t have it, and employers are shirking their responsibilities by altering things at work so they don’t have to pay for insurance. Leaving lots of hard working folks out in the cold.

Some businesses around here have gone as far as firing people as employees, then hiring them back through an agency so they don’t have to give them benefits. The benefits being lost are insurance, flex funds etc. Meanwhile the people at the top are getting fatter with all their fringe benefits. sigh

Sandy

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