If you are worried about paying the rising cost of your medical bills then join a growing club of people who are finding it harder and harder to come up with the money to pay their medical bills. The truth be told the one expense that no one ever plans for is their dental expenses. It’s not something people plan for. You don’t assume you’ll need to have a tooth pulled or get a crown or a cap and when the time comes it ends up biting you right where it really hurts: the wallet. This is unfortunate because dental expenses don’t have to keep you hyperventilating. If you enroll is something called a flexible spending account now your dental bills could be easier on you than you have ever imagined.
The way that a flex spending account works is it’s something either set up through your bank or your employer and you can set aside a set amount of money(with a maximum limit on there as well) and that money can be used for fixed medical or dental cost. So let’s say at the beginning of the year you wanted to make sure your kids were watched out for as far as the dentist goes, you might set aside 1000 dollars. You know you will have a deductible and you know you will have other expenses such as cleanings and possible extractions.
With the money you set aside in you flex account you can use that to pay toward those expenses. What’s nice is its pre tax money. Meaning the government can’t touch it so it’s less money the government can tax you on. There is one catch, what you don’t use, you lose so make sure you plan ahead carefully. Still, using a flexible spending account just makes sense.