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A flexible spending account (FSA) is an employer-sponsored savings account that lets you contribute pre-tax funds. You may use this money for approved medical and dependent care expenses.
The most common type of flexible spending account, the medical expense FSA (also medical FSA or health FSA), is similar to a health savings account (HSA) or a health reimbursement account (HRA). However, while HSAs and HRAs are almost exclusively used as components of a consumer-driven health care plan, medical FSAs are commonly offered with ...
There's a limit to how much money you can put into an FSA. In 2024, the limit is $3,200 for a health care FSA. There's one important restriction on FSA money. You have to use all the money that ...
For a quick look at the difference between HSAs and FSAs, check out the chart below. HSA. FSA. tied to a high deductible health plan. tied to an employer health plan. money carries from year to ...
A flexible spending account (FSA) is a popular healthcare savings option offered by some employers. These accounts are attached to health insurance plans and allow you to build funds you can use ...
A flexible spending account might help you pay for your health care costs. ... your healthcare,.. and that's sort of a tax-free account where you've collect money over time and you use that for ...