How much should I put in my flexible spending account?Kimberly Lankford
Use your FSA login to access your information on your provider's website. First time logging in? You may need to register. Once you have signed in, you should see an option to submit a receipt or claim among the website menu options. From there, follow the steps provided on the websi...
The easiest way to pay is to use your Bank of America Health and Benefit Account Visa debit card.1However, if your LSA doesn't offer a debit card or yours isn't available at the point of purchase, you can easily file a claim on the member website or on the MyHealth App to be rei...
Fall is the perfect time to start thinking about your Flexible Spending Account. Open enrollmentin these plans generally takes place in late fall. You’ll need to do a little planning and research ahead of time. Here is what you need to know in order to make the best use of your Flexibl...
Once you are aware of what you can use it for, find out how much money you have left in the account. Then, ask your employer about the timeline. Do you have to use it all by Dec. 31? Do you have a grace period or the ability to roll over $550?
Use goals to make saving meaningful. Working toward specific goals can be one of the most effective ways to save money because it puts a reward or accomplishment in sight. Start by thinking about what you might want to save for—both in the short term (one to three years) and the long...
1. Use automation One of the easiest ways to manage your checking account and save time is toautomate your finances. Consider setting up a direct deposit with your employer so your paycheck lands right in your checking account and is ready to go. You may be able to set up automatic transf...
When not in use, turn off the lights or turn down the heating or cooling if it’s not necessary. You can also try to negotiate your bills, ranging from your rent, phone bills, internet, and more. If you want some extra help in that department, you can use a service like Trim, ...
Knowing what comes in and what goes out of your bank account every month is the first step in saving money. If you haven't already—or it's been a while—sit down with your paystubs and bills for the month. This will give you the chance to see how much you're spending on essential...
An FSA (flexible spending account or flexible spending arrangement) is a type of savings account that you pay into throughout the year via payroll deductions. These medical spending accounts are offered by your employer. If you have a health plan through your job, you can use an FSA to pa...