Matt Breunig on HSA ＆ FSA: The Welfare System Stole $2k From Me (www.youtube.com)

submitted 11 months ago* (last edited 11 months ago) by davel@lemmy.ml to c/personalfinance@lemmy.ml

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These US healthcare systems are effectively scams. Yes in theory they can save you money, however in theory there is no difference between theory and practice, while in practice there is.

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[-] akilou@sh.itjust.works 3 points 11 months ago

Same. I put in $1,500 last year and saved like $450 in taxes. I just elected to put in $2,000 next year. It's totally worth the few seconds it takes to snap a pic of a receipt in an app to save $450 or more.

[-] deegeese@sopuli.xyz 1 points 11 months ago

Why are your health expenses taxable in the first place?

Don’t fall for “orphan crushing machine” policies.

[-] akilou@sh.itjust.works 2 points 11 months ago

I'm not saying we have a good system. I mean a better system would be to write off medical expenses when you file your taxes after the end of the year rather than this awkward in-advance thing. I'm just saying that FSAs are not a scam in that they're intentionally designed to fleece you. The whole system sucks.

this post was submitted on 15 Nov 2023

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