How a Health Care FSA can help you
The Health Care Flexible Spending Arrangement (FSA) program allows you to set aside money from each paycheck — before taxes — to pay for out-of-pocket health expenses. The maximum annual contribution is $2,500.
Here are some of the ways an FSA can help you:
- Setting aside a portion of your pay with an FSA reduces your annual taxable income and makes it easier to pay for out-of-pocket health expenses.
- The full amount you set aside for your plan year FSA contribution is available on your first day of coverage for expenses.
- Your FSA helps you pay for deductibles, copays, coinsurance, dental, vision, and many other expenses (see our eligible expenses list).
- You can use your FSA for your or your dependent’s health care expenses, even if they are not enrolled in your medical or dental plan.