Although the following advice was the last listed in Underinsured? 11 ways to stretch health-care dollars, I found it very sound and applicable in all aspects of financial life:
Overall, the best way to succeed is to be organized. Keep good records by filing each bill or notice you receive from your medical plan. Take notes whenever you are on the phone with your insurer: Jot down what was said, the name of the person you talked to, the agreed-upon course of action, your next course of action, and the action the insurer is supposed to take. Also be sure to schedule appropriate follow-ups. If a customer-service representative is supposed to get back to you on the 15th of the month and doesn't, call him.
Are HSAs Too Good to be True?
I really like how Terry Savage, the Chicago Sun-Times personal finance columnist, answers this question.
In the Good Ol' Summertime
Yes, it's summertime and that means school's out for summer. Keep in mind that if your child is under age 13 and will be attending a summer day camp program, you can save both federal income tax and FICA tax on camp cost! You have only 30 days from the day summer care began to complete and submit a change of status to reap these savings - so don't delay!
Use-it-or-lose-it-but-now-not-quite-as-quickly
Good news! Companies can now amend their benefit plans to allow up to an additional 2½ months to reimburse all flexible spending account (FSA) participants for claims incurred after the close of a plan year. For example, if I have a balance in my Health FSA of $100 on December 31, 2005, I could continue to use this balance to cover my family's qualified medical expenses for medical services received in 2006 up until March 15, 2006 (assuming my company amended its plan to include this grace period). If you have not used as much of your FSA funds as you originally estimated, now's a good time to start scheduling those check-ups with doctors and dentists for the first couple of months after your company's benefit year end!
Just what the doctor ordered
I thought the article, Staff benefits that won't cost a bundle, from the Medical Economics journal would be of interest to many of you outside the medical community, as the benefits of cafeteria plans can be realized by any size and type of business not just medical practices.
Attention all coupon cutters
Coupon cutters be aware! Now that certain over-the-counter items and medications have been approved as qualified medical expenses, many manufacturers are trying to help educate consumers by including a reminder on the coupons of their products which qualify for tax savings. Saving money always makes me feel better!