No one knows what tomorrow may bring, so anticipating financial needs for unrealized medical expenses can be difficult to navigate.

As UCC clergy, lay workers, or caregivers, planning for your needs may often fall to bottom of your list as your primary concern is those you serve. However, there is strategy and a Pension Boards’ health benefit for setting aside funds to help you meet unexpected healthcare costs — the Flexible Benefit Plan for UCC Ministries, also known as a Flexible Spending Account, or FSA.

A good starting point for determining how many flex dollars are needed for the upcoming year is to glean from your past medical-related expenses. Below are a few tips to consider in time for the FSA fall enrollment:

1. Review Past Expenses: Look at your medical expenses from the past year or two, such as doctor's visits, prescriptions, dental work, vision care, and over-the-counter medications. This helps estimate what you might spend in the upcoming year.

2. Anticipate Upcoming Needs: If you know of any planned medical procedures, dental work, or recurring expenses (e.g., prescription medications), factor these into your flexible spending budget. If you're expecting new family members, or anticipate other health expenses based on current health challenges, these should also be considered.

3. Know Your FSA Limits: The IRS sets a limit on how much you can contribute to an FSA annually. For 2024, this limit is $3,050 for health FSAs (it may vary slightly each year). Visit the IRS website for yearly updates.

4. Consider Out-of-Pocket Costs: Check your FSA plan for details about deductibles, copays, and other out-of-pocket costs. Add these amounts to your estimated medical expenses.

5. Don’t Over-Contribute: FSAs are "use it or lose it," meaning that unused funds often do not roll over to the next year (although some plans like the Pension Boards’ FSA allow a small carryover).

6. Take Tax Savings into Account: Contributions to an FSA are made pre-tax, reducing your taxable income each year. This is a key benefit, as it can save you money on medical expenses.

By following these steps and keeping track of your healthcare needs, you can better estimate an appropriate flex dollar amount to set aside for you and your family.