Flexible Spending Account

A Flexible Spending Account (FSA) is an employer owned account that lets you set aside pre-tax dollars (which lowers your taxable income) to pay for eligible out-of-pocket expenses.
There are two types of FSAs:
1. Healthcare FSA – Can be used to pay eligible medical, dental, orthodontia and vision expenses
2. Dependent Care – Can be used to pay eligible expenses for childcare, eldercare or care for a disabled dependent

• If you do not use the full amount in your FSA, you will lose any remaining funds at the end of the year.
• Once you enroll in the FSA, you cannot change your contribution amount during the year unless you experience a qualifying life event.
• You cannot transfer funds from one FSA to another.