The Welfare System Stole $2k From Me
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This is a long rant about Flexible Savings Accounts, which are these ridiculous schemes that allow you redirect some of your untaxed paycheck into accounts t...

Shit like this is the cornerstone of modern liberal policymaking. I already knew that rich people can get higher tax brakes with these - poor people who pay little in taxes can get literally a 0% tax break in some cases. But apparently, you just LOSE all of the money every 12-14 months (depending on the plan) and it is gone forever? You can literally LOSE money (in total) with a stupid savings account. Insane! And yea, it can be technically "your fault" for forgetting to file claims, but if you didn't have any healthcare costs in that year... you can't file any claims and you just lose all of the money. You are literally gambling.

  • zifnab25 [he/him, any]
    ·
    2 years ago

    Is the money lost or is the balance simply refunded to you at the end of the year?

    I'm enrolled in a Medical Savings Account like this, and anything left over is either refunded or rolled over, not lost.

    This is distinct from an HSA, where the money compounds year to year if unspent.

    • supafuzz [comrade/them]
      ·
      2 years ago

      the flex accounts get refunded to the employer which is just... incredible

    • Lovely_sombrero [he/him]
      ·
      2 years ago

      Depends on the account, there is a study in the middle of the video for different types of accounts. In this case, the money goes back to the employer, even tho this money would be part of your paycheck if you didn't have the savings account to begin with.