How the Health Care Legislation Will Affect Me
By Arnold Kling
My joke has been that what bothers me the most about the fact that health care legislation passed is that now when I give talks on health care I will be expected to be familiar with what is in the bill. So, thanks to Ezra Klein I found this helpful timeline. It included:
Limiting Health Flexible Savings Account Contributions. Limits the amount of contributions to health FSAs to $2,500 per year, indexed by CPI for subsequent years.
That provision takes effect in 2013. I assume that this refers to medical savings accounts, of the sort that I use–and I contribute more than twice that much. I guess that won’t be for long. I contribute a lot because I know what the arithmetic says is going to happen to Medicare by the time I need it. I guess the notion that I might want to save for my own medical expenses is the sort of thing that health care reformers cannot abide.
[UPDATE As commenters have pointed out, the term FSA could mean “flexible spending account” rather than what the House Committee report called it, which was a “flexible saving account.” I do not have a flexible spending account, which is something you get through an employer. So this provision may not affect me.]