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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.
v. t. e. In the United States, a flexible spending account (FSA), also known as a flexible spending arrangement, is one of a number of tax-advantaged financial accounts, resulting in payroll tax savings. [1] One significant disadvantage to using an FSA is that funds not used by the end of the plan year are forfeited to the employer, known as ...
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 Guide to Flexible Spending Accounts (FSAs) Medically reviewed by Shilpa Amin, M.D., CAQ, FAAFP Flexible spending accounts (FSAs) are pre-tax funds that you can use for health or dependent care ...
A Dependent Care Flexible Spending Account. You can use this type of savings account for a child's day care or for adult day care, such as for your spouse, parent, or grandparent.. Requirements ...
A flexible spending account (FSA) is a type of savings account typically used for healthcare expenses. ... Dependent Care FSA (DCFSA) The DCFSA is a pretax benefit account employees can use to pay ...
FSA stands for flexible spending account. The money that goes into an FSA is tax-free. Generally, you won't pay taxes on anything you spend from an FSA as long as the money is used to pay for ...
Flexible Spending Accounts. You and your spouse or partner might want to enroll in a flexible spending account (FSA). An FSA allows you to set aside money out of your paycheck before taxes so you ...
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