Isn't there a way to setup a flexible spending account without going through your work? Flexible spending account being one which I can deposit money into tax-free which I use for medical expenses. Thx for any info.

11/28/2006 12:42:07 PM

maybe this would do better in Old School

11/29/2006 11:39:18 AM

Sorry Albert. I've never heard of such a thing.

The first line in wiki states

A flexible spending account (FSA) is a tax-advantaged savings account set up through an employer in the United States

so, I'm not sure if what you are talking about exists.

11/29/2006 11:50:31 AM

Reading over this
http://www.cigna.com/health/consumer/medical/fsa.html
makes it seem like this is done through the employer.

How do you expect to deposit money into it "tax free", when your income has to come through your employer where it will be steered into such venues or into your bank accounts (being taxed first).

11/29/2006 11:52:44 AM

Maybe his work doesn't offer it.

11/29/2006 5:36:15 PM

well I'm only working part time currently since I'm still in school, so I can't get one thru work.

[Edited on November 29, 2006 at 6:34 PM. Reason : ]

11/29/2006 6:33:29 PM

wouldn't it be easier to use the insurance deal through state?

11/29/2006 9:10:00 PM

^the FSA supplements your health insurance.

synapse, my guess is that you can't do an FSA outside an employer b/c of the administrative costs involved. If you think it's worth pursuing, try contacting the FSA Administrator for someone whose work does have a plan, and see if they can work with you. Mine's http://www.selectdataservice.com/

11/29/2006 9:23:47 PM

Think you may be thinking of this, which is called a Health Savings Account, this one in particular is through BB&T.

http://www.bbt.com/bbt/personal/products/healthsavings/default.html?WT.ac=3614_hsa_promotionalsize

They are relatively new to the retail side of banks in this area.

11/29/2006 10:18:10 PM

yeah, it turns out they are called health savings accounts

only catch is you have to have a policy which has a deductible of $1050+ or something like.

11/30/2006 2:15:19 PM

^ ding, ding, ding

11/30/2006 3:35:23 PM

i just waived this off

11/30/2006 3:42:34 PM