Captain Contributor Explains FSAs

An FSA, or Flexible Spending Account, is an employer-sponsored account that enables participants to set aside money from each paycheck, before taxes, to help pay for IRS-approved, out-of-pocket medical expenses for themselves and their dependents.

 

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FSA Eligible Expenses and Other Important Information For many Americans, Flexible Spending Accounts (FSAs) are an important benefit that helps reduce their out-of-pocket healthcare costs and save money on their taxes. An estimated 43 percent of all civilian (non-government) workers have access ...

FSA Terminology: Use It or Lose It, Grace Period, Carryover, and More Whether you’re new to or familiar with Flexible Spending Accounts (FSAs), there are some key terms you should know. FSAs are employer-sponsored benefit plans. When the plan is setup, the employer has several spending options ...

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