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Why using pretax health savings will keep more money in your pocket

April 16, 2019


Your health insurance doesn’t cover everything. Most plans have co-pays for prescriptions and doctor visits, and you also have to spend a certain amount of your own cash before you get full coverage, in the form of a deductible.

For most small employer plans, deductibles now average about $2,000 a year, according to benefits consulting firm Mercer. That’s double what deductibles were a decade ago.

If you have high medical costs, or think you may need high-cost care like surgery or you’re planning to have baby — it pays to put cash aside for those out-of-pocket costs pre-tax.

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