Public Employee Press

How you can save money on medical costs

Do you want to save money on your fixed medical costs?

If you have regular, predictable medical costs, such as monthly drug or doctor co-pays, or you are planning on braces for your children next year, you may want to consider setting aside some money every paycheck into the Health Care Flexible Spending Account.

With the HCFSA, you put that money away before taxes and then hand in your receipts to your FSA coordinator to be reimbursed. It may help you budget and save on your taxes.

Open enrollment for the HCFSA ends Nov. 14. To enroll, download the forms at www.nyc.gov/olr or call your agency benefits office or 212-306-7760.

To determine if this is a useful plan for you, use the calculator at
http://www.nyc.gov/html/olr/html/flex_spending/hcfsa_calculator.shtml.