Health Care FSA Basics

The Health Care FSA can bridge the gap between what your health plans pay and what you pay by applying your pre-tax contributions to eligible expenses. You can use your Health Care FSA to pay for health-related expenses that aren’t covered by your medical, dental, vision or prescription plans. Examples include office visit copays, glasses and contacts (not covered by your vision plan), contact lens solution, hearing aids, chiropractic visits, dental care, and more! Go to www.irs.gov and search for Publication 502 for a complete list.

How Does it Work?

• When you enroll in the Health Care FSA, you decide how much money to contribute for the year.
• The money is taken out of your paychecks in equal amounts before taxes are applied to your pay.
• You don’t pay federal income tax, Social Security tax, and in most cases, state income tax on the money you contribute. The amount you would have paid in these taxes is how much you save. Average savings are about 30%.

To learn more about the Health Care FSA, click here.