An exclusive Money analysis finds that 47% of workers failed to drain their FSA balances in 2023, adding up to billions in ...

Flexible spending accounts are a powerful tool for employees, but there's a lot you need to know about getting reimbursed from them.

The FSA works like an HSA in that contributions are made with pre-tax income, and distributions are not taxed if used for qualified medical expenses. However, these differ from HSAs in two crucial ...

or FSA, so you can use it on medical expenses over the course of the year. What’s considered a “medical expense” is actually pretty far reaching. It can cover insurance deductibles ...

You can use your FSA savings to pay for certain medical expenses such as deductibles, co-pays, or medical appointments. According to the IRS, some qualifying expenses include, but are not limited ...

A flexible spending account, or FSA, is a great tax-saving benefit many employers offer for managing health care expenses. But unlike a health savings account (HSA), you can forfeit your funds in ...

Learn More Can a Flexible Spending Account (FSA) Be Used for a Gym Membership? Are Any Medical Costs Tax-Deductible? Yes. Tax-deductible medical costs include payments to doctors, dentists ...

You have immediate access to the amount you elected to contribute to the FSA for the year, even if you haven't yet funded your account. Money can be used only for qualifying medical expenses.

When Pamela Herd enrolled in a medical flexible spending account through her employer in 2024, she tried, as reasonably as she could, to forecast her family’s out-of-pocket health care costs for ...