Do you use FSA or HSA?
It depends. Do you have heavy medical expenses? FSAs have lower deductibles and co-pays. Do you need diagnostic tests or your child need braces? These expenses are paid at the time of services, while you enjoy the benefit of making monthly payments.
Are you healthy? Affordable Care Act requires insurance plans to cover preventative care. Annual doctor visits are covered – not even a co-pay. Many seniors experience heavier health costs as they age. Accumulating funds for your future medical expenses makes sense. You get to deduct it from your income today.
For more reading on this subject:
Can you benefit from a Health Savings Account?
Pros and Cons of FSAs and HSAs – Part I
Pros and Cons of FSAs and HSAs – Part II