Support to Reach Developmental Milestones

When your child is born with special needs, finding strategies for support and assistance becomes your primary focus.  Your child may need ongoing special care.  But these additional programs require funding - and often are not covered by medical insurance.  

There is an important solution to consider for children with developmental, physical, or emotional disabilities.

Flexible Spending Account (FSA) generates funding in the form of tax savings by diverting existing costs for special needs programs into a pre-tax spending account. 

Larger Needs Equal Bigger Savings

Special needs children often experience a greater need for prescription drugs, dental work, medical testing doctor visits, and vision care.  Higher un-reimbursed medical costs translates into greater tax savings.

Ongoing Needs Mean Great Lifetime Savings

Sometimes these higher costs continue throughout the lifetime of your child.  Any money saved against these costs adds up over time.  Learn how to take full advantage of pre-taxing these expenses as soon as possible to maximise your lifetime savings - and make your resources go further for your child.

Your child may need extra care for longer than mainstream children.  Parents may continue to cut day care costs beyond age 13 for "Persons physically or mentally unable to care for oneself".

Make the Most of Your Tax Deductions

You may be deducting your un-reimbursed medical expenses on your income taxes.  You get no tax savings on the first 7.5% of Adjusted Gross Income using this approach. 

A Healthcare Flexible Spending Account provides tax savings on the very first dollar of your deductible expenses. 

Expanded Deduction Categories for Special Needs

Deduction categories specific to special needs such as special education, developmental counseling, adaptive equipment- even diapers - expands your tax saving opportunities. 

Your employer may limit what you can contribute.   Ask your spouse's employer to offer a Flexible Spending Account.