Health Care Flexible Spending Account (FSA)

Pre-Tax Contributions: Employee contributions are made on a pre-tax basis, reducing taxable income.
Eligible Expenses: Funds can be used to pay for eligible healthcare expenses, including medical, dental, vision, and prescription drug costs.
Contribution Limits: Annual contribution limits are set by the IRS, and employees must plan their contributions accordingly.
Use-It-or-Lose-It Rule: FSA funds are subject to the use-it-or-lose-it rule, meaning unused funds may be forfeited at the end of the plan year or grace period.

What is a Health Care Flexible Spending Account (FSA)?

A tax-advantaged account for medical expenses. Health care FSAs allow employees to set aside pre-tax dollars. Funds must be used within the plan year.

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