What is an FSA?
A healthcare flexible spending account (FSA) is an employee benefit that allows you to set aside pretax money on an annual basis to pay for qualified healthcare expenses. A similar account, called a dependent care FSA or Dependent Care Assistance Program, operates in the same manner as a healthcare FSA but money set aside in this account on a pretax, annual basis can be used to pay for qualifi ed dependent care expenses. Pretax dollars in the healthcare FSA can be used to pay for medical, dental, and vision expenses not covered by insurance, including copayments, deductibles, chiropractic care, and over-the-counter medications. Additional information for a healthcare FSA can be found at: www. irs.gov/pub/irs-pdf/p502.pdf. Pretax dollars in the dependent care FSA may be used to pay for child and dependent (e.g., elderly family members or a spouse that is unable to care for himself or herself) care expenses incurred so that you and your spouse, if applicable, can work. An annual maximum
