Flexible Spending Account (FSA)
An FSA works like this:
Not sure how much to set aside? Use the FSA Tax Savings Calculator.
FSA eligible and ineligible expenses
The Internal Revenue Service (IRS) determines what expenses can be paid for with a health care and dependent care FSA, although your employer may limit the list.
Use your health care FSA to pay for:
Use your dependent care FSA to pay for:
Review your employer's benefits information for specific information about FSAs.
For more information, see: