What is a Flexible Spending Account?
A flexible spending account (FSA) is a voluntary, employer-sponsored program for employees to save a portion of their income, pre-tax, to be used to pay for qualified medical or dependent care expenses incurred during their benefit plan year. FSAs give employees the opportunity to realize tax savings on medical and daycare expenses through two separate pre-tax accounts: A Medical FSA and a Dependent Care FSA.
Other Types of Accounts
Calculate Your Tax Savings
Fill out the form below to see how much you could be saving by participating in these pre-tax accounts!
Dependent Care FSA
Other Pre-Tax Benefits
Enter Your Overall Tax Rate (Federal + State + FICA)If you don't know use 27.65 (15% + 5% + 7.65%)
Your FSA Savings Estimate*: $0
*This Calculator is for entertainment/planning purposes only and does not constitute a guarantee of actual savings. This Calculator assumes that premiums for healthcare coverage are taken on a pre-tax basis and does not take into account such variables as mid-year election changes, participant forfeitures, the Dependent Care Tax Credit, or participant gains due to overspent accounts when coverage terminates early. By using this Calculator, the user agrees that 24HourFlex shall not be liable for any failure to achieve the actual savings projected by this Calculator. No animals were harmed in the making of this calculator.
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