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Employees a take closer look at consumer-driven plans as high inflation persists

Even though tax-advantaged health care accounts are widely offered, only $95 billion of those expenses were paid for with pre-tax dollars, with the remaining $396 billion paid for with post-tax dollars.

By Alan Goforth | November 09, 2022 at 08:14 AM
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Employers and workers are missing out on billions in potential savings from health care accounts that offer tax advantages.

U.S. consumers spent $491 billion on out-of-pocket health care costs in 2021, according to Kalorama Information. However, even though tax-advantaged health care accounts are widely offered, only $95 billion of those expenses were paid for with pre-tax dollars, with the remaining $396 billion paid for with post-tax dollars, Aite-Novarica reports.

“In a year in which wallets have been pinched and consumers are potentially contributing less to their accounts, employers have a big opportunity to step up and reinforce the tax-saving value of these programs, which can help consumers get better value on the dollars they are already spending,” according to a report on a new survey from Alegeus.

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