How much should I contribute to my Flexible Spending Account?
A Flexible Spending Account (FSA) is a tax-advantaged financial account that can be set up through a cafeteria plan with the help of your employer. FSAs allow employees to set aside a portion of their earnings to pay for qualified expenses as established in the cafeteria plan, most commonly for medical expenses but also for dependent care or other qualified expenses. Money deducted from an employee’s pay and deposited into an FSA is not subject to payroll taxes, resulting in a substantial savings
Determining Flex Contributions
Please take time to answer the questions on the form below which apply to you. Your responses will help you determine how much you should contribute to your Flexible Spending Account for the plan year. Sample eligible expenses available on the back of this worksheet.
Account Worksheet