A Flexible Spending Account (FSA) is a tool that allows you to set aside money on a pretax basis to pay for eligible out-of-pocket health care or dependent care expenses. Your contributions to this plan are exempt from federal, state (in most cases) and FICA taxes. It is an easy way to save 25–40% on items and services you already pay for.
Looking for a list of FSA-eligible expenses and other resources? Click here.