Benets of an FSA beyond Pre-Tax Savings

1 The Money is Available on Day One

The full balance of your annual election is available to you to spend on qualied expenses on the rst day of the plan, even though you have not contributed the full balance yet. Note: this is also why you are generally unable to make mid-year contribution changes.

2 Eligible Dependents

You can use the funds on qualied medical, dental and vision expenses for any qualied tax dependent.

3 A Limited Option May Be Available

For those enrolled in an HDHP and contributing to an HSA, a Limited FSA (reimburses dental & vision expenses only) may be available.

One last option... Dependent Care FSA

The second type of FSA is a dependent care FSA. This allows you to use pre-tax funds to pay for the care of a dependent under age 13, day care center or before or after school programs. Care for a disabled spouse, parent or child over the age of 12 is also eligible for reimbursement.