What is a Flexible Spending Account (FSA)?

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. Depending on the extent of your health care or dependent care costs, an FSA can help you save a lot of money on taxes, particularly since the list of eligible expenses has expanded in recent years.

What can I use my FSA for?

The funds accumulated in an FSA can be used to pay for medical expenses for yourself, your spouse and your dependents within the year. A flexible spending account (FSA) is a tax-advantaged way to save for future healthcare costs. You can use an FSA to pay copayments, deductibles, prescription drugs and health costs.

Why do you need an FSA card?

An FSA allows you to set aside pretax funds to cover health and care costs for you and your family. Since you don’t pay taxes on this money, you save on every dollar you put into your FSA. Fast-track your payments with your FSA card. From bandages to braces, and contacts to chiropractors, use your FSA card and know you’re saving time and money.