What is a Flexible Spending Account (FSA)?

What is a Flexible Spending Account (FSA)?

A Flexible Spending Account, or FSA, lets employees set aside pre-tax money from their paychecks to spend on out-of-pocket healthcare expenses (i.e. co-pays, deductibles, over-the-counter items, etc.,). Money that goes into an FSA is pre-tax, so employees can save as much as 40% of each dollar they put into their FSA, as long as they spend the money on qualified health costs. FSAstore.com has an inventory of thousands of qualified health products. You can use our “Find a Doctor” feature to find doctors, dentists, acupuncturists and other healthcare providers. It also lists health services that you can pay for out of an FSA.

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