What does FSA stand for?

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Multiple Choice

What does FSA stand for?

Explanation:
FSA stands for Flexible Spending Account, a pre-tax benefit that lets you set aside money from your paycheck to pay for eligible medical, dental, vision, or dependent-care expenses. Because contributions are made before taxes, it reduces your taxable income. Funds typically must be used for qualified costs within the plan year (some plans allow a small rollover or grace period). This differs from a Health Savings Account, which is owned by the individual, paired with a high-deductible health plan, and allows funds to roll over year to year. The other options describe either different types of accounts or plans, not the FSA.

FSA stands for Flexible Spending Account, a pre-tax benefit that lets you set aside money from your paycheck to pay for eligible medical, dental, vision, or dependent-care expenses. Because contributions are made before taxes, it reduces your taxable income. Funds typically must be used for qualified costs within the plan year (some plans allow a small rollover or grace period). This differs from a Health Savings Account, which is owned by the individual, paired with a high-deductible health plan, and allows funds to roll over year to year. The other options describe either different types of accounts or plans, not the FSA.

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