save $$$ on dental bills

Saving money doesn’t have to hurt like pulling teeth or pulling the skin off your retina, but I want to inform you about this handy dandy little thing that I use to save money. 
  
A Flexible Spending Account (FSA) is a benefit that many employers now offer as a part of their benefits plan. A FSA is a pretax benefit allowable under IRS section 125, section 125 is also another name for FSA.
 
This plan is awesome because you can set aside a specific pretax dollar amount for the year to help pay for: medical, vision, dental, over- the- counter items, and dependent care expenses. Think of your FSA as a savings account for medical expenses your insurance won’t cover. However, you cannot use your FSA to pay for health insurance premiums.
 
Pretty nifty, huh?
 

The pretax dollar amount that you contribute to your FSA for the year, is pretax money funneled directly from your paycheck and into your FSA. Note: the money that is deducted from your paycheck is not taxed.

Woo hoo! Uncle Sam can’t pillage that chunk!
 
Example: Jane makes $100 a week. She then decides she wants Lasik (to check out all the hot guys at the beach), sometime before June 2009. At the end of 2008 Jane peels herself from her chair and walks over to her Human Resource department. Jane is going to put aside $800 into her 2009 FSA to pay for her upcoming Lasik surgery on January 2, 2009. Jane’s company then calculates a $15.39 deduction from each paycheck ($800 aka 2009 FSA designated contribution/ 52 checks she gets a year = $15.39 a rough contribution for 52 checks). Jane then goes to the hospital on January 2, 2009 and she will get reimbursed for her Lasik bill with money in her FSA. I bet you are thinking, she has only had one deduction of $15.39 taken off her checks so far. Is the money in her FSA available? It doesn’t matter, the money is ready to use, even though she hasn’t worked hours yet. HAHAHAHA! 

Jane came up:

1. Putting $15.39 of un-pillaged by Uncle Sam (tax free money) for necessary healthcare. Sassy!
2. Getting taxed on the $84.62 a week instead of $100. Flashy!
3. Throw in using a credit card with (mileage or cashback) benefits to pay for the medical bill until you are reimbursed. Classy!
4. Coupled with the INTEREST FREE LOAN, hedged against future earnings. Woo hoo!

Oh yeah baby, you just saved yourself a discount equivalent to your tax bracket, to pay for a medical bill, you didn’t really want to pay in the first place. For people that don’t use a FSA you are paying your medical bills with money that Uncle Sam already took a bite out of, thus decreasing your buying power.

One major drawback is that if you lose it if you do not use, (usually) by March 15 the next calendar year. Verify this with Human Resources department since employer’s plans vary. Don’t forget you can always be conservative and designate a small amount.
 
You also need to let your HR department know how much you want to direct into your FSA, it is $5000 a year for those with dependents and $2400 for reimbursable medical expenses. Yes, you can pay for child’s daycare this way, or condoms and birth control pills. Whichever route you take these are all covered under your FSA. =D.

Repeat: Tax free discount equivalent to my tax bracket, money that acts as an interest free loan, so I can pay for medical bills that my crappy health insurance won’t pay! Me likey!

Over the past year I have been in more car accidents than I would like to remember.

(Clearing the cobwebs from my head).

Ok, it is 7. I have been in 7 accidents since 2007. (Including an altercation with a runaway shopping cart). =(

Dayam…

So here is a list that I have compiled after numerous… Oh, I should have written that down, huh?…

Heaven forbid you get into an accident, but if you do…

This is what I, my insurance company, and my attorney have found useful.

1. Try to gather your thoughts and remain calm (I’m usually a shaking like a leaf after an accident).
2. Make sure you are not bleeding or in pain. Don’t forget to check in on any other party.
3. If it is safe, get out of your vehicle and take pictures (camera phone if handy) of the accident scene. It will be beneficial to you (if you are not at fault) to take pictures of your car, the other person’s car, and the surrounding areas. Note, try to get pictures of the lanes/ and or lines on the road.
4. Draw a diagram including the number of lanes, number of cars around you, and the location of the other vehicle. (You want to do this just in case you have to relocate to a “safer” area to exchange info and just in case the police do not show).
5. Take pictures and draw a diagram because the police might not show up to take a police report. When I called they said they won’t come out unless: 1. Someone is hurt. 2. Damage to city property. 3. Someone is under the influence of drugs or alcohol. (To sum it up in LA they won’t come unless you are dead or drunk). (Sounds fishy to me since I get parking tickets for going 1 minute over the allotted time, but that’s another blog).
6. If you smell alcohol on the other party. Call the police and let them know, so they can come and make a police report.
7. Don’t talk to the other person about whose fault the accident is… Vice versa you don’t want to get out of the car and exclaim it was your fault… Just as you shouldn’t ask the other party, what happened? The simple truth is your best alibi. Your insurance company along with your attorneys will be better able to figure out who is at fault.
8. Exchange information. Ask for their cell phone number. (I usually ask for it and then call right away to see if they are lying to me). Since liars lie, I find that it is in my best interest to make sure to be extra thorough. Ask for supplemental phone numbers, take more pictures, and take pictures of their VIN# (usually located at the driver’s side dash with a really long barcode). 
9. Copy down his/ her drivers license number, address (ask if it’s current), expiration date and date of birth.
10. Copy their registration (once again ask if the address is current).
11. Copy down their insurance. Dear God, please don’t forget to write down the insurance company, policy number, name of insured (including address), VIN #, make, model, color of car, and expiration of policy date.
12. If you live in Los Angeles, I highly suggest you add uninsured motorist coverage to your plan. Everyone I spoke to including I, has gotten hit by an uninsured motorist.
13. If you are going to retain a personal injury attorney do so immediately, if you are going to handle the accident yourself call and report the accident to your insurance company.

*Please drive safely and please don’t drink and drive.