Flexible spending accounts, or FSAs, provide you with an important tax advantage that can help you pay health care and dependent care expenses on a pre-tax basis. By anticipating your family’s health care and dependent care costs for the next plan year, you can lower your taxable income.

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Healthcare FSA

A Healthcare FSA lets you use pre-tax dollars to pay for qualified medical, dental, and vision expenses, helping you save money throughout the year. Eligible expenses include:

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• Doctor visit copays and deductibles

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• Prescription medications

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• Dental treatments (cleanings, fillings, braces)

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• Vision care (eye exams, glasses, contact lenses)

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• Over-the-counter items (with or without a prescription, as allowed)

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• Medical equipment and supplies (bandages, crutches, etc.)

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Dependent Care FSA

The Dependent Care FSA lets you use pre-tax dollars toward qualified dependent care expenses. The Dependent Care FSA can be used for:

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• Nursery schools and preschools (excluding kindergarten)

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• Au Pair

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• After school programs

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• Day camps

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• Baby-sitting/dependent care to allow you to work or actively seek employment

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• Adult/eldercare for adult dependents

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Use-It-or-Lose-It

Flexible Spending Accounts operate under a use-it or-lose-it rule, meaning that money not used by the end of the plan year does not rollover and must be forfeited, per IRS regulations.