Health Care FSA

What is it?

A Health Care Flexible Spending Account (FSA) is an employer sponsored benefit that enables employees to set aside pre-tax dollars out of their paycheck to pay for eligible health care expenses. Monies put into the plan avoid both Federal Income Tax and FICA, the average savings is about 25-30%.

Participant Tax Savings Example

Common eligible expenses are prescription and office visit co-pays; vision expense, dental work, orthodontia and expenses that are applied to medical plan deductibles. Expenses that are for one’s general well-being, cosmetic in nature or not medically necessary are not eligible.

List of Eligible and Ineligible Expenses