Base Plan vs Buy Up Medical Options
10-27-2007, 05:17 AM
#41
Gets Weekends Off
Joined APC: Jul 2006
Position: 777 CAP
Posts: 494
I would like to hear from somebody who has done the medical expense account. I understand the money is pre-tax but how is it taken out of your paycheck?
Let's say I do $1200 for a year to keep the math simple. Is $100 deducted from my paycheck per month or how is the money taken out? Also can the money be used to satisfy the $250 annual insurance deductable?
I understand the concept but the not the practical application.
Let's say I do $1200 for a year to keep the math simple. Is $100 deducted from my paycheck per month or how is the money taken out? Also can the money be used to satisfy the $250 annual insurance deductable?
I understand the concept but the not the practical application.
10-27-2007, 05:25 AM
#42
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Joined APC: Jun 2006
Posts: 732
Originally Posted by machz990
I would like to hear from somebody who has done the medical expense account. I understand the money is pre-tax but how is it taken out of your paycheck?
Let's say I do $1200 for a year to keep the math simple. Is $100 deducted from my paycheck per month or how is the money taken out? Also can the money be used to satisfy the $250 annual insurance deductable?
I understand the concept but the not the practical application.
Let's say I do $1200 for a year to keep the math simple. Is $100 deducted from my paycheck per month or how is the money taken out? Also can the money be used to satisfy the $250 annual insurance deductable?
I understand the concept but the not the practical application.
Overall I am very happy with it and I just signed up for 2008 as well. Easy way to save at least 28% of your money.
PS, the money is deducted monthly from your check.
10-27-2007, 05:28 AM
#43
Gets Weekends Off
Joined APC: Aug 2006
Position: MD11 Capt
Posts: 152
Originally Posted by machz990
I would like to hear from somebody who has done the medical expense account. I understand the money is pre-tax but how is it taken out of your paycheck?
Let's say I do $1200 for a year to keep the math simple. Is $100 deducted from my paycheck per month or how is the money taken out? Also can the money be used to satisfy the $250 annual insurance deductable?
I understand the concept but the not the practical application.
Let's say I do $1200 for a year to keep the math simple. Is $100 deducted from my paycheck per month or how is the money taken out? Also can the money be used to satisfy the $250 annual insurance deductable?
I understand the concept but the not the practical application.
the whole process is painless. I thought i would have a hard time spending the $2000, but with my whole family in glasses now I was done by August.
10-27-2007, 07:53 AM
#47
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Joined APC: Aug 2006
Posts: 1,433
2 questions: (Found the answers)
Do you just get 1 debit card for the family or 2? (Can order 2 additional debit cards at wageworks.com)
It does work for orthodontics? (yes)
Do you just get 1 debit card for the family or 2? (Can order 2 additional debit cards at wageworks.com)
It does work for orthodontics? (yes)
Last edited by KnightFlyer; 10-27-2007 at 08:07 AM. Reason: later, I actually found the answers myself!
10-27-2007, 08:19 AM
#48
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Joined APC: Aug 2006
Position: MD-11 Captain
Posts: 1,395
Even though the cards say DEBIT--wageworks will only let them work as a CREDIT card. Therefore, you will not have any pins to remember. You can have as many as you want--one for each family member.
10-27-2007, 08:51 AM
#49
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Joined APC: Jul 2006
Position: 767 Cap
Posts: 1,306
I agree with all the posters above who added to my previous post. For those wanting to know about paycheck deductions, it is done at each check. If you sign up for $1200, it will be $50 per paycheck, twice per month. I did $1000 at $41.67 per paycheck. As mentioned, it is all available in January, with the whole year to pay it off. Works on copays, prescriptions, glasses, etc.
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