Avoiding Pitfalls
Keeping organized is important in the event you have an issue with your health insurance carrier, or are involved with an IRS audit.
- Save all receipts. Start a large envelope for each plan year. Organize them by those expenses that can be applied to your deductible, and those that are qualified expenses but are not accepted by your health insurance carrier
- Keep track of deductible so know your health insurance exposure
- Make sure prescription drugs are getting applied to your deductible; some plans do not automatically
- Get checks that look different than your personal checking account