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.

  • Evilphd666 [he/him, comrade/them]
    ·
    2 years ago

    My company has been trying to con us into FSA and HSA plans for years now.

    One of the things they rolled out was a 'cost calculator' which was absolutely rigged to conclide you would alwazys save with the FSA / HSA over a traditional PPO plan.

    I showed to to my management, and the rest of the people in my office. Needless to say, they never rolled out that propagandistic rigged calculator again.

    The union fought to keep on the PPO plan every year.

    Yes these FSA and HSA accounts are fucking scams. Bronze health plans or high deductable plans are fucking scams. Now that they've been rolled out for a number of years people are finding out how limited and how much of a PITA they really are.

    They work for very specific conditions. If you don't land in that special goldilocks zone of conditions they can work against you. There are giant lobbies who fight to keep this gamble going as more and more suckers drive these private money makers for the banks higher. CHUDS vote against M4A - what will happen to my FSA/HSA money? I wrote to :yes: campaign with this question and they said the money would be refunded.

    If we had M4A single payer then things would be less confusing and less of a gamble. Less paperwork. Less worry.

          • mkultrawide [any]
            ·
            2 years ago

            HRAs (Health Reimbursement Account) are funded 100% by your employer, but you don't get to take the money with you when you leave. My old employer had one that covered the second $2500 of the $5000 deductible once you covered the first half. It's good that you dropped the FSA, even if it's by accident.