it allows individuals to set aside money tax-free and roll it over every year to pay everyday medical expensesA medical savings account that could be rolled over makes sense. The ones offered through my husband's employer do not allow you to roll over your excess. Therefore, if your bills do not add up to the amount you've deposited, at year's end, you lose that amount you've deposited but haven't used.
A medical savings account that could be rolled over makes sense. The ones offered through my husband's employer do not allow you to roll over your excess. Therefore, if your bills do not add up to the amount you've deposited, at year's end, you lose that amount you've deposited but haven't used.<<
Dawn, that is a cafeteria plan, not a Medical Savings Account. Much different animal.