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Pros and Cons of Flexible Spending Accounts
Flexible Spending Accounts are great for saving money, but there are two downside factors that need to be considered. The first is the risk of forfeiting unused funds, and the second (and often overlooked) factor is that shielding income in an FSA from taxation could have a ling range affect on future Social Security benefits. Read The Post & Courier columnist David Slade’s article on this subject here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.
