Get the 411 on Flexible Spending Accounts (FSA’s)

A flexible spending account (FSA) is a beneficial tool for saving money on health care, since the account contains pretax dollars contributed each pay period to pay for qualified medical and dental expenses.

An important provision of an FSA is that most of the money contributed within a calendar year must be spent within the same year or it is lost.  Such urgency is no longer necessary thanks to rule changes by the Internal Revenue Service (IRS). First, employers have the option to offer up to 14 and ½ months to