Take advantage of Flexible Spending Accounts (FSAs)

Submitted by a LOZO expert
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If your employer offers health insurance, check if you can take advantage of an FSA. These accounts let you take a tax deduction on money you put aside for health care. Since you are going to spend the money anyway, this is a great way to cut back on the cost. Plus you can use FSAs on a variety of regular drug store purchases. If you spend $1000/year on health expenses, and are in the 28% tax bracket, that's $280 you can save.

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