What is an FSA?

An FSA is a Flexible Spending Account, a benefit plan that enables you to set aside a portion of your paycheck – on a pre-tax basis – to pay for out-of-pocket health, dental and vision expenses, prescriptions, and over-the-counter medication. 

Given the money most people spend annually on such expenses, a properly funded FSA can result in significant tax savings. Your annual funding limits are outlined in the Funding Sheet you received with your Enrollment Form. As a reminder, when determining the amount to put aside for your “flex plan,” be sure to budget wisely. Any funds unused at year’s end will be forfeited.

If you would like to learn more about how an FSA can save you money and the types of expenses covered, Click Here.