Most Popular Questions
What is a Health Care FSA?
A Health Care FSA (HCFSA) is a pre-tax benefit account that's used to pay for eligible medical, dental, and vision care expenses that are not covered by your health care plan or elsewhere. With an HCFSA, you use pre-tax dollars to pay for qualified out-of-pocket health care expenses.
The money you contribute to an HCFSA is not subject to payroll taxes, so you end up paying less in taxes and taking home more of your paycheck. You decide how much to contribute to your HCFSA based on how much you plan to spend in the upcoming year on out-of-pocket medical, dental, and vision care expenses. Since the money allotted to your HCFSA is not subject to payroll taxes, you save an average of 30% on your eligible health care expenses. Use our savings calculator to find out how much you can save.
Important: An HCFSA cannot be used to pay for health insurance, life insurance, long term care insurance or any other insurance premiums, or costs for temporary continuation of coverage (TCC).
See Health Care FSA for more information.