No. of Recommendations: 1
yankeesmyteam writes,

I have used a msa as an employee, and I find them great, but you have to be conservative on how much you put in because if you don't use you lose.

If your kid has allergies, or if you have some disease that requires regular care not a bad idea. With some kids it is not too bad an idea to put some money away.

I heard Congress might pass legislation allowing your MSA to be rolled over to the follow year so keep your eye out.

I think you're talking about an FSA (Flexible Spending Account) rather than an MSA (Medical Savings Account).

I'm not aware of any provisions in an MSA where if you don't spend the money this year you lose it. The whole idea of an MSA is to save up enough money to pay the high annual deductible on the insurance policy if you have an expensive illness.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.