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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 health and medical expense FSA?

An FSA is a tool that may help employees manage their health care budget. Here’s how a health and medical expense FSA works: An FSA is not a savings account. If you leave your job, you can’t take your FSA with you.

Can I use my FSA for medical and dependent care expenses?

You may use this money for approved medical and dependent care expenses. A flexible spending account (FSA) is an account that allows you to save pre-tax dollars and use them toward your medical and dependent care expenses. Many employers offer FSAs as a benefit.

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