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Flexible Spending Account (FSA)
Flexible Spending Account (FSA)
A Flexible Spending Account (FSA) is a benefit governed by the IRS and sponsored by your employer.  An FSA allows you to pay certain Heath Care and/or Dependent Care expenses with pre-tax money.  Money is diverted out of each of your paychecks on a pre-tax basis and put into a Health Care Reimbursement Account and/or a Dependent Care Assistance Account.  Once enrolled, you are allowed to draw money out of the accounts to reimburse yourself for out-of-pocket medical and/or dependent care expenses incurred during the plan year which are not reimbursed from insurance or other sources.  Please be aware, there is a $48/year administrative fee deducted from participants' accounts in January.

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