A Flexible Spending Account Benefit qualifies under
Code Section 125 of the IRS.IRS
Section 125 was created to make benefits more affordable.
Health Care FSAHealth Care Flexible Spending Account (FSA) – beat medical and dental deduction hurdles, cut costs for Prescription Drugs, Fertility Treatment, Prenatal Care, Well Baby Care, Premature Baby in NICU, and Special Needs Children
Dependent Care FSAUsing the IRS Child Care Tax Credit? Get bigger Tax Savings and Deductions for using a Dependent Care Flexible Spending Account FSA for your childcare, daycare expenses.
Flexible Spending Account Rules & RegulationsHow a Flexible Spending Account (FSA) works. The "Use it or Lose it Rule". Changing your plan elections. Qualifying life event. Impact on Social Security Benefits.
FSA Beats Tax Deduction HurdlesBeat IRS medical tax deduction hurdles. The IRS allows you to deduct un-reimbursed medical and dental costs from your taxable income: for amounts exceeding 7.5% of your Adjusted Gross Income. Many of these medical and dental expenses provide no relief. An FSA provides first dollar tax savings, and greater overall tax relief.
Pre-Taxing Saves You and Your Employer MoneyYou and your employer benefit from pre-tax health insurance deductions. You may lower federal, state income taxes, plus FICA taxes. Your employer enjoys payroll tax savings.