Many consumers use FSAs to cover routine medical expenses, like vision care, orthodontia, and prescription drugs.

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That will hurt folks who really need the accounts to help with big-ticket items like orthodontia, or special education costs deemed medically necessary.

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Still, MSAs can be attractive, particularly if you run up big bills for items that aren't covered by regular insurance, such as alternative medical treatments, orthodontia or laser eye surgery.

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You can foot the bill for private school, college or even orthodontia for your grandkids, nieces or nephews, so long as the check is made out to the school or dentist, not to the parents.

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