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HomeRecruitment GuideGlossary Terms A-ZHealth Care Flexible Spending Account (FSA)
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Health Care Flexible Spending Account (FSA)

A Health Care Flexible Spending Account (FSA) is a type of employee benefits plan that allows employees to designate a specified amount of pre-tax dollars to go towards plan-approved medical expenses. Some of these expenses include dental, vision, medical exams, deductibles, co-pays, and prescription costs. The money usually covers out-of-pocket costs, and any money that an employee contributes will always be tax-free. Since this money is tax-free, employees will also be expected to save an amount equal to the taxes you would have paid on the saved funds. A special FSA debit card is usually issued in order to give employees immediate access to any funds in their Health Savings Account (HSA).

Related Terms

  • Health Savings Account (HSA)
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    The content on our website is only meant to provide general information and is not legal advice. We make our best efforts to make sure the information is accurate, but we cannot guarantee it. Do not rely on the content as legal advice. For assistance with legal problems or for a legal inquiry please contact you attorney.

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