Flexible Spending Account (FSA)

Medical FSA & Dependent Care FSA

Medical and Dependent Care Flexible Spending Accounts (FSAs) offer a valuable tax advantage by allowing you to set aside pre-tax dollars from your paycheck to cover eligible out-of-pocket medical and dependent care expenses.

By planning ahead for these costs each year, you can reduce your taxable income and save money on essential expenses. There are two types of FSAs you can elect:

Medical FSA – For qualifying healthcare expenses not covered by insurance.

Dependent Care FSA – For eligible child and dependent care expenses.

Once enrolled, you’ll choose an annual contribution amount, which is deducted from your paycheck throughout the year before taxes are applied. You can then use those funds to pay for approved expenses as outlined by the IRS.

Important Notes:

You must choose your contribution amount at the start of the plan year.

Changes are only allowed if you experience a qualifying life event (such as marriage, birth of a child, etc.).

FSAs are subject to the IRS “use-it-or-lose-it” rule—any unused funds at year-end may be forfeited.

For a full list of eligible expenses, go to healthequity.com/qme

For online shopping with your FSA card you can visit fsastore.com  or  amazon.com