How Much Life & Disability Insurance Is Enough?

American Benefit Advisors, Inc.

Atlanta, GA 30077-2166

Phone 770-645-5989

Email Info@GoABA.com

Coverages and availability vary by state. Not all businesses and individuals qualify. This does not constitute legal, tax, or accounting advice or opinion. Consult with an experienced and properly licensed professional regarding the specific suitability of any planning technique.

How Much Will an FSA Plan Save Me ?

If you have Medical expenses not reimbursed by insurance or Childcare expenses, you should be participating in a Flexible Spending Plan (or Section 125) if your employer offers this benefit. The reason is that your participation can significantly reduce your Income and Payroll taxes, giving you more of your money to spend .

Use the FSA Plan Calculator below to see how much you can save.

FSA Calculator

FSA Plan Benefit Calculator

This calculator demonstrates the potential annual tax savings available if you elect to participate in a Flexible Spending Account Plan. Just estimate your income and your Medical and Child Care costs, then scroll to the bottom to see an estimate of your annualized potential tax savings.

1. Estimated Annual Income

2. Estimated Medical Expenses (not reimbursed by insurance or excluded by IRS)
Dental
Vision
Prescription Drugs
Over-the-Counter Drugs
Deductibles
Co-insurance
Assistance for the handicapped
Therapy treatments
Pregnancy
Other

*Total Medical Expenses*:

3. Estimated Dependent Care Expenses
Babysitter
Day Care Center
Nursery School
After-School Care
Home Health Care
Other

*Total Dependent Care Expenses (max. $5,000):*

Here's an estimate of your potential tax savings...

NOTE: These calculations are based on 15% Federal, 5.85% State, and 7.65% Social Security tax. Your Federal and State income tax rates may be more or less.

	Without FSA Account	With new FSA Account

Annual Income
Total Medical Expenses
Total Dependent Care Expenses
Taxable income
Net income

Your annual savings...

NOTE: This information is intended to be general and informational in nature, and is not intended to provide you with legal, medical, tax, financial planning or other professional advice.