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2018 SAVINGS AND SPENDING ACCOUNTS GUIDESAVINGS AND SPENDING ACCOUNTSHealth Savings Account Healthcare FSA Limited Purpose FSA Dependent Care Stable of Contents FLEXIBLE SPENDING ACCOUNTS What is
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Explain the different types of flexibility, such as physical flexibility, mental flexibility, and flexibility in the workplace.
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A flexible is a type of financial account that allows individuals to set aside pre-tax income for eligible medical expenses.
Employees who are interested in setting aside pre-tax income for medical expenses are required to file a flexible spending account.
To fill out a flexible spending account, employees typically need to enroll during their employer's open enrollment period and decide on how much money they want to contribute for the year.
The purpose of a flexible spending account is to help individuals save money on eligible medical expenses by using pre-tax income.
Employees participating in a flexible spending account must report the amount of pre-tax income they are setting aside for medical expenses.
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