What is a Flexible Spending Account (FSA)?

A Flexible Spending Account (FSA) is an employer-established benefit account allowing you to set aside pre-tax dollars (up to $2,650 per year, per employer) to cover eligible medical expenses. Flexible Spending Accounts enable customers to save money on certain medical and dental costs covered by their respective plans. Your FSA dollars can be used to cover medical costs, including eligible over-the-counter healthcare products, for you and any dependents claimed on your federal tax return.

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