Yusra3
VIP Contributor
A flexible spending account (FSA) is a tax-advantaged way to save money on healthcare costs.
You can use an FSA to pay for healthcare expenses such as prescription drugs, dental care, and vision services. When you use your FSA to pay for eligible expenses, the money will be deducted from your paycheck before taxes are taken out.
If you have a high-deductible health plan (HDHP) through your employer, you may be eligible for an FSA at work. Your employer must contribute at least $2,600 per year of coverage to your FSA. If they don't contribute enough, you can contribute on their behalf.
There's no limit to how much you can contribute to your employer's FSA or how much you can contribute if you have an individual health insurance plan (IHIP). However, there are restrictions on what types of expenses qualify for reimbursement with an FSA.
You can use an FSA to pay for healthcare expenses such as prescription drugs, dental care, and vision services. When you use your FSA to pay for eligible expenses, the money will be deducted from your paycheck before taxes are taken out.
If you have a high-deductible health plan (HDHP) through your employer, you may be eligible for an FSA at work. Your employer must contribute at least $2,600 per year of coverage to your FSA. If they don't contribute enough, you can contribute on their behalf.
There's no limit to how much you can contribute to your employer's FSA or how much you can contribute if you have an individual health insurance plan (IHIP). However, there are restrictions on what types of expenses qualify for reimbursement with an FSA.
