Well, first and foremost, you have to have patience, commitment, and organization skills. If you have those, then yes, I would recommend it. For example, we have had set aside about $2600 this year for the MSA account alone (you can do the same for daycare as well). At the 28% tax rate, that means we save $728 in taxes. What we spend in exchange is the time to track the medical bills (which I do already), faxing, and following up with anything that was denied (doesn't happen often).
So I would recommend it for anyone who is willing to keep up with the process.
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timeasmymeasure
no subject
Date: 2008-12-08 03:35 pm (UTC)Well, first and foremost, you have to have patience, commitment, and organization skills. If you have those, then yes, I would recommend it. For example, we have had set aside about $2600 this year for the MSA account alone (you can do the same for daycare as well). At the 28% tax rate, that means we save $728 in taxes. What we spend in exchange is the time to track the medical bills (which I do already), faxing, and following up with anything that was denied (doesn't happen often).
So I would recommend it for anyone who is willing to keep up with the process.