Who among us hasn’t let a valuable coupon, store credit or gift card expire? If no one is raising his or her hand at this point, it’s no surprise. Holding on to funds in your Flexible Spending Account can wind up in the same basket of foregone gifts that you can’t ever recover.
That’s certainly a chronic migraine trigger! So don’t find yourself in this boat when January 2015 rolls around; when you realize you forgot to use your Flexible Spending Account funds toward that Omega migraine procedure you were saving up for and looking forward to all throughout the year, along with finding that expired gift certificate buried deep in your wallet.
Let’s say you squirreled away the indexed limit of $2,500 during this past year in your Flexible Spending Account. You could apply this tax-free sum toward the Omega migraine procedure, assuming you qualify for this treatment of course. Leaving that hard-earned money in the account, and not using it, will for the most part result in losing it!
While the Affordable Care Act now allows an employee to carry over a modest portion of that account to the following year, the largest portion remaining gets forfeited. Adding insult to injury to your economic harm is the fact that this lost amount may be fully taxable!
By contacting Migraine Treatment Centers of America, without further delay and scheduling your procedure, you will actually be saving even more money. Did you know that, according to the American Headache Society, the average annual costs related to an individual living with chronic migraine are $7,750?
This number factors in indirect costs such as lowered work productivity, as well as direct costs like diagnostic testing, doctor and emergency room visits, and drugs. These findings came from the 2009 American Migraine Prevalence and Prevention study.
Be sure not to be, one of the folks who realizes sometime in early 2015, that he or she not only lost a bunch of money, but that chronic migraines are still a constant physical and financial burden.