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We've updated one of our most popular materials. See what's new in our guide to MERPs.

A Guide to Flexible Spending Accounts

Flexible Spending Account Overview

Health Flexible Spending Accounts (FSAs) are a type of Medical Reimbursement Plan. Health FSAs are Flexible_spending_accountone way for employees to use pre-tax dollars to pay for medical expenses, such as doctor visit copays, vision expenses, and prescription drug costs. FSAs are established by employers, and are (usually) 100% employee funded.

Health FSAs are a popular way to pay for medical expenses tax-free. It’s estimated that 14 million American families use FSAs, with the average employee contribution $1,484 a year (2012).

The sections outlined on our navigation bar provide more information about Flexible Spending Accounts.

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Learn the differences between HSAs, HRAs, and FSAs