What can I use my FSA for?

The funds accumulated in an FSA can be used to pay for medical expenses for yourself, your spouse and your dependents within the year. A flexible spending account (FSA) is a tax-advantaged way to save for future healthcare costs. You can use an FSA to pay copayments, deductibles, prescription drugs and health costs.

What is a medical care FSA?

A medical care FSA is the type most people are familiar with. This is the type of FSA that allows you to put aside money for medical and dental expenses. Some employers also offer a type of FSA called a dependent care FSA. This type of FSA allows you to set aside money for expenses such as day care, babysitting, long-term care, and home healthcare.

What is a health and medical expense FSA?

An FSA is a tool that may help employees manage their health care budget. Here’s how a health and medical expense FSA works: An FSA is not a savings account. If you leave your job, you can’t take your FSA with you.