How the Health Care Legislation Will Affect Me
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.]