A Health Care Flexible Spending Account (FSA) allows you to set aside tax-free dollars each year for health care expenses not covered by insurance. You may use these funds to pay for eligible health care expenses incurred by you, your spouse and your qualified dependents.
- Pre-tax contributions reduce your taxable income.
- Pay for out-of-pocket eligible health care expenses with tax-free money.
- Your total annual Health Care FSA contribution amount is available immediately at the start of the plan year .
- You can carry over up to $550 remaining in your account from one plan year to the next.