What is a flexible spending account?

An arrangement through your employer that lets you pay for many out-of-pocket medical expenses with tax-free dollars. Allowed expenses include insurance copayments and deductibles, qualified prescription drugs, insulin, and medical devices.

You decide how much to put in your FSA, up to a limit set by your employer. You aren’t taxed on this money.

More about this topic

Blog posts

Can’t Afford Obamacare – Help Paying for High Deductible Health Insurance

What to do if Your Employer Health Insurance is Too Expensive

Why Should I Choose an HSA Plan During Workplace Open Enrollment?