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Final_Project_Aliya_Teregul page 3 - 8 Flexible Spending...

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ducted from your paycheck to go toward increased Medicare payroll taxes. In addition to higher payroll taxes yo 8. Flexible Spending Accounts Will Become Less Flexible Three years from now, flexible spending accounts (FSAs) will have lower contribution limits – meaning you won’t be able to have as much money deducted from your paycheck pre-tax and deposited into an FSA for medical expenses as is currently allowed. The new maximum amount allowed will be $2,500. In addition, fewer expenses will qualify for FSA spending. For example, you will no longer be able to use your FSA to help defray the cost of over-the-counter drugs. 9. If You Earn More, You’ll Pay More 10. Medicare May Cover More or Less of Your Expenses Starting this year, if Medicare is your primary form of health insurance you will no
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