Advertisement
insurance

How to Use Funds From Multiple FSAs

Couples can draw from both flexible spending accounts.

My husband is covered under my workplace health insurance, but both of our employers offer a flexible spending account. Can we contribute to each of our FSAs, and can he use money from both accounts to pay for orthodontics? - C.K., Oceanside, Calif.

You and your husband can each contribute up to $2,650 to your FSA accounts in 2018 to pay eligible medical expenses for yourselves and any dependents. Dependents do not have to be covered by your medical plan to use the money in the FSA, says Jody Dietel, chief compliance officer for WageWorks. That means your husband can withdraw money from both accounts for his orthodontics.

Advertisement
Advertisement

Most Popular

Election 2020: Joe Biden's Tax Plans
taxes

Election 2020: Joe Biden's Tax Plans

With the economy in trouble, tax policy takes on added importance in the 2020 presidential election. So, let's take a look at what Joe Biden has said …
September 18, 2020
11 Dividend-Paying Stocks You Should Think Twice About
dividend stocks

11 Dividend-Paying Stocks You Should Think Twice About

Dividend-paying stocks often can be a store of safety, but 2020 has been difficult on income equities. These 11 picks look like shaky plays despite th…
September 21, 2020
Medicare Basics: 11 Things You Need to Know
Medicare

Medicare Basics: 11 Things You Need to Know

There's Medicare Part A, Part B, Part D, medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare --…
September 16, 2020

Recommended

Insurance for Long-Term Care at Home
retirement

Insurance for Long-Term Care at Home

In the wake of COVID-wracked nursing homes, increasingly more people are looking at options to age in place with long-term care insurance.
September 17, 2020
3 Tips to Help You Navigate Open Enrollment in Your ‘New Normal’
health insurance

3 Tips to Help You Navigate Open Enrollment in Your ‘New Normal’

With all the changes going on in workplaces across the country since COVID-19, your insurance and benefits needs might have changed, too.
September 15, 2020
This Year’s Benefits Open Enrollment Period Is an Opportunity You Don’t Want to Miss
health insurance

This Year’s Benefits Open Enrollment Period Is an Opportunity You Don’t Want to Miss

Plan ahead to do a deep dive into the benefits your employer offers. Given what we’ve been through so far in 2020, you may need them!
September 9, 2020
Retiree Health Care Costs Are Rising
Healthy Living on a Budget

Retiree Health Care Costs Are Rising

Factors driving the increase include longer life spans, health care inflation and health bills for those who retire before they’re eligible for Medica…
August 18, 2020