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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.

What is an FSA & how does it work?

Also called a flexible spending arrangement, an FSA (not to be confused with an HSA) can be used to cover certain expenses with pretax money.

How much can an employee contribute to an FSA?

An employee who chooses to participate in an FSA can contribute up to $3,200 through payroll deductions during the 2024 plan year. Amounts contributed are not subject to federal income tax, Social Security tax or Medicare tax. If the plan allows, the employer may also contribute to an employee's FSA.

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