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.

What is a flexible spending account?

A flexible spending account lets you use pretax money to pay for health or dependent care expenses. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations.

How much does a flexible spending account pay for healthcare?

This equates to 6.3% of the family's income. Flexible spending accounts (FSAs, also known as flexible spending arrangements) help offset the high price of healthcare by allowing you to pay for some medical expenses with pretax dollars.