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Flexible Spending Accounts

106456876_400Flexible Spending Accounts (FSAs) are optional plans that let you set aside your own pretax dollars to cover qualified medical, dental or vision expenses, or dependent day care expenses that you would normally pay with post-tax dollars. You pay no federal income or Social Security taxes on the money you place in these accounts. So, you lower your taxable income and pay lower taxes. Be sure to check with your local human resources department about the rules that may apply to FSAs.