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What is a flexible spending account?

See full bio. + more A flexible spending account, or FSA, is a tax-advantaged account offered by your employer that allows you to pay for medical expenses or dependent care.

Are flexible spending accounts right for You?

There’s no one-size-fits-all approach when it comes to flexible spending accounts. To decide if an FSA is right for you, forecast upcoming health and dependent care expenses for the year, plus general drugstore-item spending, and become familiar with the FSA plans being offered.

Can I use a flexible spending account with a marketplace plan?

Get a list of generally permitted medical and dental expenses from the IRS. You can’t use a Flexible Spending Account with a Marketplace plan. A type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses.

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