Flexible Spending Account (FSA) - Manage Your Account

Flexible Spending Account

A Flexible Spending Account (FSA) from SelectAccount is like getting a discount on many of the health-related items for which you are already paying. If your employer offers a SelectAccount FSA, you can set aside pre-tax dollars to spend throughout the year — stretching your dollar farther.

in your budget with an FSA

There are two types of FSA plans: one that is for medical care expenses and another for work-related dependent care expenses, such as daycare and elder care. SelectAccount offers both FSA options.

Plan today for tomorrow’s medical expenses

If your employer offers an FSA, you could save a portion of your income, pre-tax, to be used to pay for common medical expenses such as medical, dental, pharmacy and vision costs.*
For medical care, your entire yearly contribution is available to spend on the first day of the plan year—even before all the money goes into your account.
FSA dollars can be used to pay for medical care or qualified dependent care—giving you the option to save money on common expenses, such as eye exams, prescriptions and daycare.

Save on medical expenses and taxes

Your employer will deduct your FSA contributions from your paycheck automatically, before taxes are taken out.
No employment or income taxes are deducted from your FSA contributions.

* If you have an HSA and a medical FSA, different rules apply.