An FSA or Flexible Spending Account is a pre-tax health spending account that can be used to pay for eligible healthcare expenses.
In more technical terms, a Flexible Spending Account is provided by employers and gives eligible employees a tax-free account to save money on qualifying health expenses.
There are three types of FSAs and each type can only be used for a specific purpose: General Purpose FSA, Limited Purpose FSA, and Dependent Care FSA. Read more on the Lively Blog.
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