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Flexible Spending Accounts Smart, simple savings What is an FSA? Dependent Day Care San FSA is a Flexible Spending Account that allows you to set aside money on a pretax basis to pay for eligible healthcare
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An FSA is a Flexible Spending Account, which is a tax-advantaged financial account that allows employees to contribute a certain amount of their pre-tax wages to pay for eligible out-of-pocket medical expenses.
Employees who want to take advantage of the tax benefits of an FSA are required to sign up for the account through their employer's benefits program.
To fill out an FSA, employees need to determine how much they want to contribute to the account for the year and submit the necessary paperwork to their employer.
The purpose of an FSA is to help employees save money on eligible medical expenses by allowing them to use pre-tax dollars to pay for medical services and items.
Employees must report the amount they want to contribute to the FSA for the year and keep track of their eligible expenses to submit for reimbursement.
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