FSA

• Decrease your taxable income and
  

• Increase your take home money after every payday.

It is a great option when paying for healthcare and other medical expenses

• Healthcare FSA

This will help you pay for the following expenses:

- Prescribed medications

- Doctors’ office visits

- Dental and ocular care

- Laboratory tests and more

Read and check your FSA provider benefits and rules to know what expenses will be covered.

• Dependent-Care FSA

Will help you pay the costs of others while you work:

- Day school or after school care for children under 13 and

- Home care for seniors

• You can pay for medical supplies and medications

• Doctor’s visits

• Children’s orthodontics (braces)

• Chiropractic care

And others specified by your FSA provider

On the first month of every year, you decide how much money you want to have deducted from your paycheck and deposited in your FSA for the next 12 months.
Check your prior years' medical costs in order to have an idea of how much you will need to pay during the course of the year.
The amount you choose to put in your medical FSA account is taken from your monthly paycheck in equal parts and put into your FSA.

You choose to have a year’s deduction total of: $2,400
Divide $2400 by 12, this will give you your monthly payments. So, $2,400 / 12 months = $200 per month

That total amount per year you choose to pay will be available on the first day your benefits become ACTIVE (on the first month you started paying for the plan).

You can immediately begin using the entire $2,400 (in this example) for medical costs.

You can only use the amount of money you have been deducted up until that point.