The Internal Revenue Code (Section 125 of the Revenue Act) created Flexible Spending Accounts, also called FSAs or cafeteria plans. These employer-sponsored accounts allow you to set aside money to pay for your benefits and medical or dependent care expenses. All on a pre-tax basis! This lowers your taxable income — which means you bring home more of your net pay!
FSAs are similar to a checking account. You can deposit pre-tax money from your paychecks to use later. You can pay for qualified medical expenses not covered by your company's health plan or pay for dependent care expenses.
Do you have a Flexible Spending Account with us? Manage your account by logging into My Health Toolkit® and clicking the "Access Account" link on the Welcome page. Or learn more about online account access.
Need more information on FSAs?
To find out if an FSA is an option for you, check your benefit booklet or contact the benefits coordinator in your company's Human Resources department.