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Flexible Spending Accounts
A Flexible Spending Account (also called an FSA, a Section 125 plan, or Cafeteria plan) offers a way to save money for qualified expenses: You direct a part of your pay into a special, tax-free account that you use to reimburse yourself for eligible out-of-pocket health care, dependent care and transportation expenses.
- Health Care FSA – a health care account can reimburse you for eligible health car expenses that ar not covered by your health insurance plan. These include deductibles, copays, certain out-of-pocket expenses and over the counter medications.
- Dependent Care FSA – A Dependent Care Flexible Spending Account (FSA) allows you to direct part of your pay, on a pretax basis, into a special account that can be used throughout the year to reimburse yourself for certain eligible dependent care expenses.
- Transportation FSA – For parking and public transportation reimbursement related to your job.